DJI Potential for Bearish Momentum | 10th October 2022

On the H4 chart, the DJI has a bearish bias. Look for a possible retracement sell entry at 29672.85, which is the location of the 100% Fibonacci line, prior swing bottom, and market gap. Enter at the very beginning of the market gap rather than at the top to prevent missing out on a trade. The stop loss will be set around 30454.46, which is just over the 23.6% Fibonacci line. The take profit level will be 28398.65, which corresponds to the 127.2% Fibonacci extension line.

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