Go short Dow, fake break, 300 point gap fill

Expecting a breakout fakeout here on the dow, 5 min moving averages are very bearish still.

These moving averages in no way support a breakout here and daily is very overbought.

There is a gap fill still not filled from 3 days ago down at 27690, let see if we can get a 300 point move out of this to the downside.

Stop at the daily high 28160, (lower down once fake break confirmed)

Leave a like please and I'll keep updating this trade for you as we go through it

Comment:

So here we have the first fakeout and a slight falling wedge into the big green support box, this is an entirely normal part of a potential breakout-retrace to support then try again. So I have taken 25% of my profits here.

Comment:

5 min moving averages are still very bearish though (sliding 200 and 100 not crossed, so its unlikely this will properly break out at this stage. Stop at high still of 28165

Comment:

here an hour later we see the second failed breakout attempt a great time to add more shorts. 15 min moving averages are very bearish and we now have a big area of resistance above us

Trade closed manually:

I've closed 90% of my short now in good profits at the low swing as I don't like to hold over the weekend. Lets see what happens and look for re-entries when futures re-open on Sunday

Trade active:

Ive actually now reversed long in this trade on Monday morning looking for some short term long profits with this inverse head and shoulders move, before the ultimate gap fill down below

Trade closed: target reached:

Gap fill reached!