Anticipating further downside pressure as DOW struggles @ 17,523-08 resistance zone, a close above this zone invalidates the set-up.
Weary of the DTL break @17,489 could indicate bullish momentum. As a result I'm risking 1% with a tight stop.
Target 1 - 17,453
Target 2 - 17,166
Daily chart is looking very bearish, Daily support has been broken and Daily Ma's have crossed to the downside. Expecting any bullishness to be lack luster, hence adding to my short bias.
Happy Trading,
Chartster
Weary of the DTL break @17,489 could indicate bullish momentum. As a result I'm risking 1% with a tight stop.
Target 1 - 17,453
Target 2 - 17,166
Daily chart is looking very bearish, Daily support has been broken and Daily Ma's have crossed to the downside. Expecting any bullishness to be lack luster, hence adding to my short bias.
Happy Trading,
Chartster
Comment:
It seems my concerns became a reality, the TL break was enough to move prices higher eventually. Closed trade 10 pips before SL; I knew it was risky hence the reduced risk.