Dow Jones Yearly Template
Updated
Last year in 2023, price was bouncing around the yearly candle's open and eventually blasted higher to form a bull expansion candle. The high to low of the entire year was 6,360 ticks and 20.24%. From the open of the year to the close, it was 4,566 ticks and a 13.77% gain.
This year in 2024, now that it is about half way through the yearly candle, is looking like a doji.
The range so far is small with only 2,978 ticks high to low. Only 8% from the low to high.
I have no clue what the rest of the year will bring. I am only looking at what it is doing in front of me.
There is really only three 2024 candles that can happen.
1. Buy low at the bottom of the yearly range under the teal blue 2024 Open price for a bullish run back up to the high for another bull expansion candle. (Bullish Expansion Candle)
2. Sell near the top of the range and hope the candle turns into a (bearish candle)
3. Play the ranges on both sides and the year goes sideways for a (small doji candle)
Usually after a big bullish expansion candle that we had in 2023, probabilities should say that we get more continuation or a bit of a rest as in a doji candle. I don't really see a bearish candle forming as of yet.
This year in 2024, now that it is about half way through the yearly candle, is looking like a doji.
The range so far is small with only 2,978 ticks high to low. Only 8% from the low to high.
I have no clue what the rest of the year will bring. I am only looking at what it is doing in front of me.
There is really only three 2024 candles that can happen.
1. Buy low at the bottom of the yearly range under the teal blue 2024 Open price for a bullish run back up to the high for another bull expansion candle. (Bullish Expansion Candle)
2. Sell near the top of the range and hope the candle turns into a (bearish candle)
3. Play the ranges on both sides and the year goes sideways for a (small doji candle)
Usually after a big bullish expansion candle that we had in 2023, probabilities should say that we get more continuation or a bit of a rest as in a doji candle. I don't really see a bearish candle forming as of yet.
Note
2022 opened and started to form a bearish expansion candle. It wasn't until the very end of the year when the move higher formed that tail. 2022 also had about a 20% range from high to low or about 8000 ticks.The fact that 2024 has only had about 3000 tick range so far tells me that it is most likely a doji or a move will happen towards the end of the year in either direction for about a 6-8 thousand tick range like every other yearly candle.
Note
Starting with 2020, it made a massive pin hammer bar for a whopping 15,000 plus range from high to low.The 2022 pullback candle pulled back exactly into the 2020's open price as noted by the teal line. I never realized this until now.
Note
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