My DJI strategy is switching to buy into the close today. I might be jumping the gun on this buy I followed my 5 minute strategy in order to position myself at 27375 so I am in the money with a stop loss above break even.
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I am moving the stop loss up on this accordingly...
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There is reason to caution right now. I would close longs for profit and look for a place to re-enter lower or above 27500.
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Buy Signal on the 5 minute chart. Good time to re-enter
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The stops were ran right at the point many people jumped on long to trade the pop. But what it led too is a bigger pop up than we should've had and now we will come up to resistance sooner. We tend to see action like this when we are at a market top. Longer term trades can stay long but If you were stopped out I would stay neutral and wait for the next signal. I think this correction will continue playing out next week.
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Great to place to re-enter long. Our 1 hour stop level was tagged.