DJI Potential for Bearish Momentum | 11th October 2022Looking at the H4 chart, the current overall bias for DJI is bearish. To add confluence to this bias, the price is currently under the Ichimoku cloud which indicates a bearish market. To add confluence to this sell entry, there is a market gap at 29672.85 near the sell entry that looks good to be filled. The entry is placed at the bottom of the market gap to prevent missing out on this potential trade. Looking for a sell entry at 29672.85, where the 100% Fibonacci line and previous swing low is located. Stop loss will be placed at 30454.46, slightly above where the 23.6% Fibonacci line is located. Take Profit will be placed at 28395.10, where the 127.2% Fibonacci extension line is located.
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