In the upcoming weeks, the Dow Jones is anticipated to undergo a significant trend reversal. Acknowledging the inherent unpredictability of market movements, I plan to initiate a series of gradual short positions, implementing a methodical risk management approach.
The strategy outlined here is conceived for a long-term horizon, specifically tailored for a 1-2...
Reason for entry: Red Bar Ignored (Narrow Range Bar) above the 50% of an Elephant Bar (Wide Range Bar)
First Target: Previous Pivot with at least 1:1
Upon Reaching First Target, Adjust to Break Even, Take Half Off
Second Target: Previous Pivot High for 2:2
Upon Reaching Second Target: Take Half off, Leave for market to stop out.