darbova

US30/DowJones Long (short-term)

Long
CURRENCYCOM:US30   Dow Jones Industrial Average Index
Trendline drawn from 4H TF. Lots of rejection to the downside as you can see in that zone. Will look for confirmation to enter with a small lotsize as i'll need to place the SL about 80 points below entry, below the trend line .
Inflation report being released tomorrow 1.30pm GMT and if the results are bad (i.e. inflation is high/worse than expected), we'll likely see a drop on indices as investors drop out... hence why this set-up is a short-term one.
Updates to follow.
Trade active: Entered buys from 34454.4 and 34462.9, SL 29 and 37 points away so not risking a lot. We'll see how it goes
Comment: Erratic behaviour on DJ. It keeps tapping my SLs and then heading up... typical. I still believe my setup is valid so i've re-entered and we'll see how it goes.
Trade closed: stop reached: I've been stopped out about 3 times now so i'm going to leave it now before i start revenge trading.
Trade closed: target reached: There's nothing more frustrating that getting stopped out and then seeing price fly 300 points lmao. Better luck next time for me but at least my analysis was right :')

Comments