PipNubian67

DJI/US30 Trade Idea - Big Short - Black Monday?

Short
DJCFD:DJI   Dow Jones Industrial Average Index
After the peak comes a correction.

Hitting 27000 could have meant steaming on to 30000 BUT a major reversal came on Friday could have been short-lived, however, break in trendline too severe following economic and political tensions beyond a traditional profit taking session. Highly speculative signal that the market will correct further to below 24000 for TP1 and then 23000 for TP2 before possibly even hitting absolute short target of 20000. Entry dependent on early trading so any rise to a fake high to say 26500 is worth waiting for until correction comes and enter at 26000. Otherwise enter anytime sell off begins (e.g. 300 point move downwards).

The next 2 business days will decide the course and full event may take 11 days to fully complete. With a dramatic short who knows? Is confidence in the US really fragile or is it pure profit taking from the new recent high before the march to the next new high? Time will tell so check your charts and hold on for the ride!

Typical caution required so risk no more than 5% if guidance needed and when in clear profit move your stop loss to consolidate any gain on day 1 to ensure complete freedom of a risk free trade. Please let me know your thoughts and acknowledge your results if at any point of 15th June you enter this trade and win?

Losses are part of trading and this is my fourth prediction so running at 3 out of 4. Good luck.

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Comments

Wow so more profit taking than change of direction, first day tp1 was good early on before rebounding and rallying just like today.

More developments from the Fed mean another correction is more than possible.
Reply
Good analysis.
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