Charlieab94
Short

US30 Dow Jones Intraday Short Trade

OANDA:US30USD   US Wall St 30
Potential for a intraday reversal to occur here with a lower high to form. This would then see price start to make it's 5ht bearish wave down to a new lower low at the 27,500 support zone or lower.

Price is inbetween the 0.786 and 0.618 fib retracement levels so shorting would need a conservative stop loss placement in my opinion. There is the 1hr 50EMA to keep price down at this area and the 50 is now below the 200EMA ( bearish alignment).

Tech stocks are still struggling and they have previously kept US equity indexes high. If they falter again this week then a further sell off on the Dow Jones is imminent.
Trade active
Comment: TP1 @ 27,500 almost reached now. Nice R:R at this level but there is a lot of potential for stocks to go lower in the near term. Manage exposure and ride the waves
Trade closed: target reached: Trade closed, final target at the -0.27 fib extension zone reached. Price is getting spiked and volatile now aswell.
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