Dow Trade


I ended up selling higher (over 130 points higher) after the initial short position moved higher. This was held a couple of days and I exited today for a net profit of roughly 20 ticks

Floating a loss, I looked to the daily chart for some potential resistance which could push price back down, and so was willing to wait to see how it would react to the 61.8 Fibonacci level.

When price broke out of a 9 hour consolidation it was not looking good. It should be noted that the peak was between the 38.2  and  61.8 levels on the daily chart. This could have been a level to be watching in the first place.

When I had the chance to exit today for a net profit I took it. This started out as a scalp, so actually, it ended up ok.




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