DOW looks toppy

I’m doing my usual analysis of the markets taking signals and trades of the Daily timeframes. The one that looks interesting today is the DOW, see pic below:

Now you have to bear caution as the market is clearly in an uptrend.. however, the price action over the past week, looking at the daily charts, shows us that there seems be a band of resistance where the price is unable to get beyond. Of course, the markets can do anything but this does look like a worthwhile trade taking a 1:1 risk to reward. I’ve entered short at 13145 with a stop above the highest price reach in the past week and a limit at 13000 (big round numbers tend to be areas of support or resistance).

Did you like this? Share it:

Tags: , , , , , , , , , , ,

Category: DOW, Trading