akshit_official

GOOD TIME TO SELL DOW JONES ?

Short
DJ:DJI   Dow Jones Industrial Average Index
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!
Trade active:
CMP 40050

Adding more quantity here.
Avg Sell Price now is 39950
Holding with 40200 SL for mentioned targets.
Trade active:
CMP 39806

144 points in profit.
Trade active:
CMP 39600

350 points in profit. Holding with CTC SL now.
Trade closed: target reached:
CMP 39100

First target hit. 850 points in profit.
Trade closed: target reached:
CMP 38580

Second Target hit. 1370 pips in profit.
Comment:
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.
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.
Comment:
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. :)
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