jianhua85

US30 - retracement before long term continuation to the upside

Short
jianhua85 Updated   
PEPPERSTONE:US30   Dow Jones Industrial Average Index
US30 - Divergence on PA and RSI overbought in 4 hr chart. In daily, a small stop at 35500 area indicating offloading of long orders.
Consolidating near trend line shows weak in long to continue pushing the price.
Expect a downward retracement to 34422 for 2618 retracement.
Wait with short order at 35500 to give a good signal downwards before entering.
Trade active:
shorted scout at 34450. hopefully more chance to short at 35500.
Trade closed: stop reached:
FOMC last night increase volatility and took out the trade. Keep in mind for future trade.

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