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Djiaforecast

Situation DJI end of 5.3.2019 SHORT Resistance not brokenAs i wrote in the chart the resistance line at 25880 (nearly) is to beat for long. For today the bulls havent had enough power to kill it. That seems to be at the moment that situation is still short but we have a chance for a long change if that resistance will be took out from the market. On the other hand if the next days the come back above this line will not come true that a clear sign of weakness and we shall see more trend to the downside
TVC:DJIShort
by Renkotrade
Dow Jones (DJI) - Time to take a bowNot financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk. Wow. What a rally. Looking at different indicators and charting methods, I've found some confluence I'd like to share with you. 1. We got rejected at what would appear to be some resistance based on a pitchfork. This seems to be the new hot thing these days but in this case it's actually looking good. We got rejection at the top descending resistance line of the pitchfork which leads me to believe it's an accurate measurement of price action and control. 2. Is 71.3% fibonacci retracement a real thing? I've now seen this level get defended more times than I'd like to admit. We actually got rejection there on DJI which leads me to believe since I'm seeing this across multiple asset classes now (crypto and traditional markets) that this is a level I need to pay attention to and take seriously. 3. Assuming we go down from here, we should be targeting at least $24,000 conservatively but a revisit of the median is not out of the question which would be a decent thought for a double bottom reversal. Will this happen? Only time will tell. Nobody has a crystal ball. 4. We're trading above the 200 day moving average and found some support there on Friday, so we've got a tight zone here. 5. Last thing to note - I'm using an overlay that detects pivots and you can see (red and green arrows) that it has done a decent job for past performance. Well, it just turned bearish last Thursday. This further supports my theory of some downside in the near future. No Trade Zone: $25,000 - $25,400 Breakout above or below will be the trade. I am leaning bearish at this zone but trade the safe and probable trade, not the hopeful trade. If you weren't able to get short at $25,400 then you need to wait for a confirmed breakout in my opinion. Trade safely friends! <3 -CE-
DJ:DJIShort
by bitdoctor
SHORT Dow Jones might have topped out around 24860 levelsThe Dow Jones turned bearish yesterday, indicating that a meaningful top could be in place at 24860 levels, but be prepared for yet another high around 25100 levels as well. Kindly note that a major price resistance is seen at 26000 levels, which is potential Wave (2) termination as labelled on the chart view here, and prices should ideally stay below that, to keep the bearish structure intact. Also note that a resistance trend line is passing close to 25000 levels, which is converging with fibonacci 0.786 resistance of the drop between 26000 and 21800 levels respectively. Believe it or not, the 24860 to 25100 region could prove to be a strong resistance zone and a bearish reversal cannot be ruled out. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
Dow is at a fibonacci confluence around 24000 levels!The Dow Jones hits fibonacci resistance at confluence around 24000 levels. It could just be a matter of time, before bears take control back and continue lower, as Wave iii progresses. Believe it or not, the wave counts are clear as highlighted here, and a potential higher degree Wave (3) has been unfolding since the 26000 levels. Furthermore, a lower degree wave iii extension could be potentially unfolding at the moment, since 24800 highs. If the above structures hold good, ideally we should see prices remain below 24800 levels and broadly below 26000 levels going forward. A safe trading strategy still remains on the south side with potential risk at 26000 and targeting below 21800 respectively. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
2
Dow might be unfolding an extended Wave iii within Wave (3)?The Dow Jones inched higher to 24000 levels yesterday before closing at 23879 levels in the spot segment. If the earlier wave counts discussed were correct, the Wave iv projection stands invalid for now since prices penetrated Wave i termination at 23881 levels. As discussed yesterday, the structure still continues to remain bearish and in fact a lower degree wave iii could be still unfolding as a potential extension. Please note that the recent boundary that is being worked out could be between 26000 and 21800 levels and the rally is seen to be stalling close to fibonacci 0.618 resistance at 23662 levels. Also note that the rally from 21800 through 24000 is just a counter trend (3 waves) and a bearish confirmation here could resume lower again. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
5
Dow Jones structure still intact as Wave (3) unfoldsDow Jones remained just shy of the critical 23881 levels yesterday and reversed lower from 23864 levels respectively. Until spot prices remain below 23881 levels, we shall maintain a probable wave iv termination count as displayed on the daily chart here. Please note that even if Dow Jones manages to break above the wave i lows, the higher degree wave counts shall still remain valid for further bearish moves. A strong resistance prevails at 26000 levels and until prices remain below that, a corrective rally is always a possibility. For now, we maintain that wave iv termination still remains valid and that prices could resume lower ay time soon. Overall Dow Jones remains a great potential candidate to sell on rallies. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
1
Dow Jones Wave iv finally in place at 23675 levels ?The Dow Jones managed to rally and close higher yesterday, making intraday highs at 23675 levels. It seems that the corrective rally (3 waves) that began from 21800 levels earlier might have terminated at 23675 levels, just ahead of 24000 as discussed earlier. We could still label this lower top as a potential Wave iv termination, and until prices remain below 24000 levels, a sharp 5 waves decline can be expected. It could either be an impulse drop or an ending diagonal but the termination point could be at least below 21800 levels going forward. The higher degree wave structure also remains intact for now with Waves (1) and (2) in place at 24122 and 26000 levels respectively and Wave (3) into progress now. If the above structure holds true, we could see fresh lows below 21800 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
1
Dow Jones still carving Wave iv, within Wave (3) lowerThe Dow Jones is seen carving out Wave iv at a lower degree with Wave (3) as labelled on the daily chart view here. Believe it or not, the rally on Friday which saw Dow Jones closing on a higher note at 23430 levels, should not be considered as a change in trend. It could still be carving out a wave iv, as a potential zigzag and resume lower anytime soon. If the above structure should hold, prices should ideally stay below the 24000 mark (please note wave iv ideally stays away from wave i termination) and resume lower towards 21800 levels. Please also note that the 38% fibonacci retracement of the entire drop between 26000 through 21800 levels is also passing through 23400 levels, which could be potential termination of wave iv. Overall bearish bias remains until prices stay below 24000 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
Dow Jones Wave (3) still in progress below 21400?The Dow Jones produced an intraday rally towards 23327 levels yesterday but it still remains vulnerable to turn lower one more time and print below 21400 levels. Looking at the wave counts, the Dow Jones seems to have completed Waves (1) and (2) at 24120 and 26000 levels respectively. Since then Wave (3) has been in progress lower and has produced 4 waves. The 4th wave might have terminated at 23381 levels last week and if this holds true, we could witness wave v lower towards 21000 levels, to complete a higher degree Wave (3). Also please note that if the above structure should hold valid, prices should remain below 24000 levels, which is wave i termination point as presented on the chart view here. Overall bearish momentum should remain until prices stay below 24000 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
Dow Jones ready to drop below 21400 levels now?The Dow Jones is progressing well into its Wave (3) at a higher degree as labelled here. Within the 3rd wave, a lower degree wave iv was unfolding last week and we had discussed the possibility of its termination around 23200/300 levels. Last Friday, Dow Jones managed to hit 23365 levels intraday and closed around 23000 levels as seen on the chart displayed here. It could be a potential wave iv termination and prices could resume lower from here below 21400 levels. If the above structure holds true, prices should remain below 23370 levels and bears in control from here on. Once Wave (3) is terminated lower, it would be interesting to see if Dow Jones turns higher again. At least for now, the bearish pressure remains against 24000 levels. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
DOW JONES to FREE-FALL in 2019 - RISING WEDGEThe Bull Market is finally over after the last 10 years BULL RUN WITH a FINAL PARABOLIC. We have reached a matured stage of both TECH STOCKS and TRADITIONAL STOCKS Market. It is high time for a heavy free-fall and an ending bearish engulfing should lead the start of a stock market SLAM DUNK in 2019. OMFG, look at that interest rate now from the FED.... Isn't it obvious what's imminent? #Disclaimer, this is just a forecast. Happy Trading and good luck folks 2019 - FTD
DJ:DJIShort
by FXBOX
3