Sell The DJIA At The Daily 38% Retracement

The last two weeks have brought considerable strife over trade wars and new tariffs. The DJIA has struggled accordingly, with values trending south on a seemingly daily basis. As a result, the September E-mini DOW futures have tested the 24000 level. A sell from just beneath the daily 38% retracement is a good way to join the intermediate-term trend.

Here is the trade:

1) Entry: Sell 24499
2) Stop Loss: 24551
3) Profit Target: 24447
4) Risk vs Reward Ratio: 1/1

We may see limited participation and chaotic price action due to the July 4th holiday. If this trade does not go live in the next two sessions, it will be void until Thursday/Friday.