🔍As it's Friday, with just one day left in the trading week, it's crucial to consider closing positions before the week's end to mitigate weekend volatility.Today's focus is on DOT, exhibiting a clear Dow Theory analysis. Currently, it finds support at $8.712, with a significant resistance level at $10.349, aligned with the POC of the fixed range volume profile.
📈Given the bullish daily and weekly trends, we can explore long-risk triggers. The current ceiling stands at $9.483, and a breakout could signal a long entry.
📉For short positions, we look to the Dow Theory's recent low at $8.712, aligning with its descending trend.
📊While volume is declining, this can be attributed to the overall corrective nature of recent declines on the weekly timeframe, suggesting the potential for an upward reversal at any moment.
🧠💼It's important to acknowledge the inherent risks in futures trading, with the potential for margin calls if risk management is neglected. Always adhere to strict capital management principles and utilize stop-loss orders, ensuring that the initial target offers a risk-to-reward ratio of 2