Hello good day fellow traders!
I'm looking for a potential sellπ setup for $DJIA(DJIA)$ , with both fundamental and technical indicators to back it up.
π°Fundamentally,
- The Dow drops 300 points. the worst week since September as of Friday
- Following November's producer price index, which increased 0.3% last month and 7.4% over the previous year, wholesale prices on Friday increased more than anticipated. The Core PPI, which does not include food or energy, exceeded expectations as well.
- The busy economic calendar for this week continues to be the center of attention.
π€On the technical front,
1.) Looking at the H4 chart, despite the fact that price is in a bullish uptrend, I'm looking to play the pullback with a sell entry. Price has already tapped into my pullback sell entry at 34106.01, where the previous high is.
2.) I have re-adjusted my stop loss set at 35492.22, where the previous swing high is, to 34595.51, where the most recent high is.
3.) I intend to take profit at 32135.41, where the 61.8% Fibonacci line is located.
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Trade Entry recommendations:
Sell Entry: 34106.01π
Take Profit: 32135.41 π²
Stop Loss: 35492.22β
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Other tickers to recommend:
For 5x Long Leverage: $DJIA 5xLongSG250911(CUJW.SI)$
For 5x Short Leverage: $DJIA 5xShortSG250911(CVFW.SI)$
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