Dow Jones July NFP Range Play 5.25 to 1 Risk RewardI am expecting a spike down at NFP into the range yellow box. I don't know how deep into the box it will go and so I am forced to use a bigger stop to compensate as IF this play is to work then price cannot go below the yellow box.
After the spike down, the trade should immediately be in profit for the explosive short squeeze 450 ticks higher to take out 39,850.
All of these stacked highs are dead giveaways for a short squeeze.
I will be placing my limit buy down in the yellow box at price 39,416
I will be placing my stop loss below the yellow box at price 39,336 for 80 ticks
I will be placing my target at the stacked highs up near 39,850. I will be getting out before then at 39,830. Target 414 ticks