US30
DOW JONES INDEX│ US30 │ 22 - 26 JULY 2024
- Daily timeframe [long term timeframe]
Illustrated by the red & grey dot are the weak & strong highs and lows respectively. The daily timeframe is currently experiencing a pullback and will only be confirmed bearish at the break of 39176.0 Although we are in discount price has not tapped into of the PD Arrays I look for [fair value gaps & demand zones]
• Bullish bias
- Four-hour timeframe [medium term timeframe]
Testament to the daily timeframe correction we can see that the four timeframe has switch bearish and our closest swing high is 41424.6. No swing low has formed yet on this timeframe and price could go even lower from this point. We will have to wait for price action to determine that for us.
• Bearish bias
- 15-minute timeframe [short term timeframe]
Price is in a range; we have created both swing lows & highs but have no seen a violation of either of the two. This is all just fractal evidence of what is happening on the long and medium term timeframes.
• Consolidation
Once we have a clear directional bias on the 15-minute timeframe we can drop lower into our entry timeframe, which is the 5-minute timeframe, and look for any entry model that aligns with the bias established on the short-term timeframe
©Austin Palmer for FONOS Fx, 2024.
- Daily timeframe [long term timeframe]
Illustrated by the red & grey dot are the weak & strong highs and lows respectively. The daily timeframe is currently experiencing a pullback and will only be confirmed bearish at the break of 39176.0 Although we are in discount price has not tapped into of the PD Arrays I look for [fair value gaps & demand zones]
• Bullish bias
- Four-hour timeframe [medium term timeframe]
Testament to the daily timeframe correction we can see that the four timeframe has switch bearish and our closest swing high is 41424.6. No swing low has formed yet on this timeframe and price could go even lower from this point. We will have to wait for price action to determine that for us.
• Bearish bias
- 15-minute timeframe [short term timeframe]
Price is in a range; we have created both swing lows & highs but have no seen a violation of either of the two. This is all just fractal evidence of what is happening on the long and medium term timeframes.
• Consolidation
Once we have a clear directional bias on the 15-minute timeframe we can drop lower into our entry timeframe, which is the 5-minute timeframe, and look for any entry model that aligns with the bias established on the short-term timeframe
©Austin Palmer for FONOS Fx, 2024.
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