The daily chart clearly highlights volatility with spikes in both directions for the last three trading days. Buyers have emerged overnight and there is ample scope for a corrective rally to the upside. I am looking to sell into this correction.
Bespoke resistance is located at 34,783. We have a 61.8% pullback level located at 34,787. We have a supply zone between 34,771 and 34,878.
I am looking to sell the index at my bespoke resistance level targeting the intraday demand zone with a stop loss above the supply zone.
I am selling Dow Jones 30 at 34,783
SL: 34,900
TP1: 34,323
Risk/Reward factor of 3.93(R)
#tradeplan #US30
Bespoke resistance is located at 34,783. We have a 61.8% pullback level located at 34,787. We have a supply zone between 34,771 and 34,878.
I am looking to sell the index at my bespoke resistance level targeting the intraday demand zone with a stop loss above the supply zone.
I am selling Dow Jones 30 at 34,783
SL: 34,900
TP1: 34,323
Risk/Reward factor of 3.93(R)
#tradeplan #US30