Dow Jones | H4 Rising Wedge | GTRadingMethod👋 Hello Traders.
Yesterday I mentioned I’d be watching for a breakout and retest setup — that plan still stands. However, I’ve also taken a short position off the diagonal resistance line.
🧐 Market Overview:
I’m currently seeing rising wedge structures across Nasdaq, S&P, Russell 2000, and Dow Jones. These patterns typically lean bearish, and I can’t ignore the confluence. That said, wedges can fail, and with the market leaning bullish after of the FOMC announcement, I’m aware this is swimming against the trend.
📊 Trade Plan:
Risk/Reward: 6.7
Entry: 46 267
Stop Loss: 46 450
Take Profit 1 (50%): 45 000
Take Profit 2 (50%): 45 000
(I’m already short from 46 267 and will look to add if price retests that level.)
💡 GTradingMethod Tip:
Bearish patterns like rising wedges can offer high R/R setups, but always remember — strong bullish backdrops (like major data events) can cause them to fail. Risk management is everything.
🙏 Thanks for checking out my post!
Make sure to follow me to catch the next idea and share your thoughts on what you think the markets will do today and how you would trade rising wedges :)
📌 Please note:
This is not financial advice. This content is to track my trading journey and for educational purposes only.
