Dow Jones Index Rises After Weak Housing Data πŸ“ˆπŸ 

The Olympus Academy
2022-12-29

Hello good day fellow traders!

I'm looking for a potential buyπŸ“ˆ setup for $DJIA(.DJI)$ , with both fundamental and technical indicators to back it up.

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πŸ“°Fundamentally,

  • The Dow Jones Industrial Average rose on Wednesday following the release of economic data, including another housing report and a Fed manufacturing index.
  • Following the opening bell on Wednesday, the Dow Jones Industrial Average gained 0.1%, while the S&P 500 gained 0.15%. In early trading, the Nasdaq composite gained 0.2%.

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πŸ€”On the technical front,

1.) Looking at the H4 chart, my overall bias for DJI is bullish. I am looking for a pullback buy entry at 32490.37, where the 38.2% Fibonacci line is.

2.) My stop loss is set at 31729.63, where the 50% Fibonacci line is.

3.) I intend to take profit at 34106.01, where the previous high / resistance is located.

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Trade Entry recommendations:

Buy Entry: 32490.37πŸ“ˆ

Take Profit: 34106.01 πŸ’²

Stop Loss: 31729.63❌

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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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Comments

  • Cklew
    2022-12-29
    Cklew
    thanks for sharing
  • stsockli
    2022-12-29
    stsockli
    thanks for sharing 😊
  • SirBahamut
    2022-12-29
    SirBahamut
    Thanks for sharing!
  • Rocket Chief
    2022-12-29
    Rocket Chief
    πŸ‘πŸ»
  • W00000
    2022-12-29
    W00000
    πŸ‘
  • Lee SL
    2022-12-29
    Lee SL
    good
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