Dow Jones Down Week Wednesday Sell Idea

Updated

I am looking at a down weekly candle/template or perhaps a bearish doji weekly candle.

I set my limit sell on that wick above the 09:45 EST 15 min candle with a 50 tick stop and a 150 tick target for a 3:1

I am not interested in the middle of the range as that is where price is bouncing from

I see ramped volume on Tuesday with the low of Tuesday suspended above 2024 yearly open price and the peak formation low.

Note

Price is almost to my limit sell. Come to Papi.

Trade active

Patience pays off, got my entry where I wanted it.

Entry 38,837
Stop 38,887
Target 38,662

50 tick stop
175 tick target
3.5 risk reward

Trade active

Trade is not behaving as expected, it seems to be a losing trade.

Trade closed manually

Took a small loss on the short position as I was wrong. Took a -0.75R loss so not a full 1R loss. Reversed my position to bullish as this is what the market is showing me.

Entry off of the 4 hour bull 180 close

entry
38,870

stop
38,820

target
39,021

I have no problem admitting I am wrong, as I am quite often. As long as I stick to my 3:1 then over the long term I will be profitable

Dow_Jones_Maestro

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