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Avirany
Mar 8, 2023 5:25 PM

Short 08/03/23 DIA Short

SPDR Dow Jones Industrial Average ETFArca

Description

Price broke a triangle after going sideways, went below the 100 MA, retested, and is now forming a bearish engulfing candle


Asset and Time frame - DIA, Daily-Weekly
Entry Price - 327.39
Exit(Stop Loss) -336.79
Exit(Take Profit) - 293.65

Technical Analysis - Price broke a contracting triangle, made a few undecisive doji candles near the 100 MA, then closed below it, now, price action has retested the triangle and is forming a bearish engulfing candle(depending on the close of the candle), the prior daily candle closed below the daily 100MA

Good luck to all of us
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