GOOD TIME TO SELL DOW JONES ?

May 15, 2024

Symbol - DJI

Dow Jones is currently trading at 39850

I'm seeing a trading opportunity on sell side.

Shorting DJI at CMP 39850

I will be adding more if 40050 comes & will hold with SL of 40200

Targets I'm expecting are 39115 - 38585 - 38175 & beyond.





Disclaimer - Do not consider this as a buy/sell recommendation. I'm sharing my analysis & my trading position. You can track it for educational purposes. Thanks!

May 16, 2024

Trade active

CMP 40050

Adding more quantity here.
Avg Sell Price now is 39950
Holding with 40200 SL for mentioned targets.

May 21, 2024

Trade active

CMP 39806

144 points in profit.

May 23, 2024

Trade active

CMP 39600

350 points in profit. Holding with CTC SL now.

May 23, 2024

Trade closed: target reached

CMP 39100

First target hit. 850 points in profit.

May 29, 2024

Trade closed: target reached

CMP 38580

Second Target hit. 1370 pips in profit.

May 29, 2024

Note

CMP 38440

Booking full position here.
1510 pips profit booked.

It may reach third & final target as well but I have already captured a big move. So, booking full here.

May 30, 2024

Trade closed: target reached

CMP 38085

All targets hit. 1860 points move captured.
DONE & DUSTED!

P.S. : US GDP data was due today. I prefer not to trade while major data releases so I booked my position yesterday after hitting second target. Today markets are reacting negatively to data release hitting my third & final target.
A retracement is pending on long side so I may look for a long trade around 38000 round level.

Jun 3, 2024

Note

Exactly reversed from 38000 level and went till 38720.
My limit buy order executed at 38010 and I booked that at 38500 although it went till 38700+
Long for retracement view was absolutely correct and captured 500 points move in that. :)