DJI switch to a buy
My DJI strategy is switching to buy into the close today. I might be jumping the gun on this buy I followed my 5 minute strategy in order to position myself at 27375 so I am in the money with a stop loss above break even.
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I am moving the stop loss up on this accordingly...Note
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There is reason to caution right now. I would close longs for profit and look for a place to re-enter lower or above 27500.Note
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Buy Signal on the 5 minute chart. Good time to re-enterNote
The stops were ran right at the point many people jumped on long to trade the pop. But what it led too is a bigger pop up than we should've had and now we will come up to resistance sooner. We tend to see action like this when we are at a market top. Longer term trades can stay long but If you were stopped out I would stay neutral and wait for the next signal. I think this correction will continue playing out next week.Note
Great to place to re-enter long. Our 1 hour stop level was tagged.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.