Hello good day fellow traders!
I'm looking for a potential sell๐ setup for $DJIA(.DJI)$ , with both fundamental and technical indicators to back it up.
๐ฐFundamentally,
- After Jobless Claims, the Dow Jones drops 700 points.
- The stock market threatened to add to Wednesday's Federal Reserve-fueled losses, as sellers pressured chip stocks on warnings of industry oversupply.
- According to the Labor Department, first-time jobless claims fell to 211,000 from 230,000 the previous week.
๐คOn 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. Looking for a pullback sell entry at 34106.01, where the previous high is.
2.) My stop loss is nset at 34712.28, where the previous swing high is.
3.) I intend to take profit at 32490.37, where the 61.8% Fibonacci line is located.
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Trade Entry recommendations:
Sell Entry: 34106.01๐
Take Profit: 32490.37 ๐ฒ
Stop Loss: 34712.28โ
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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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