Dow Jones – The advent of Diagonal pattern on the 240minuteChartThere is the probability for the completion of the first 5 ascending wave of 1 / A
(Weekly Chart )
In the weekly chart, we had this wave counting, this uptrend is likely in the wave 5 from point of 1 / A.
( Daily Chart )
In the daily chart, with the end of wave 4 in the range of 18213.70, the 5th wave has started, currently the price is in the sub-waves of the V wave.
The Diagonal pattern is formed in the 240-minute chart, which can be ended in the range of 30325 to 30500, this pattern will be confirmed by crossing the price from the range of 29820.
The targets of this pattern are the range of 28920 (starting point of the pattern), by considering the gap, we can also include the range of 28440. The third target is in the range of 26143.
Djianalysis
DOW JONES INDUSTRIALS PREPARING FOR A BIG MOVE UP?decision zone.
breakup can be very agressive.
stop > if breaks down & daily closes.
SP500Looks like classic W bottom to me, at this level all the bulls need are some shorts to yolo short this market thinking sp500 will dump down to that bottom range 3250.
Then guess what boom to 4k lmao.
Well we shall see im in the crypto space watching the alts big boom coming soon.
I would not short here though.
Like playing Russian Roulette.
GL guys.
DOW 30k! 💨After the election results, the Dow jumped to new record highs on Monday, marking its high just shy of the 30k milestone. Our primary expectation is a breach of the 30k mark and a continuation of wave iii in orange. To confirm the outbreak, the Dow must break above the 30k mark. Should the bears send the market on a detour, and the support at 28781 is broken, we expect the further downward movement towards the next support line at 27648. One way to play the current scenario is to place entry orders above and below the mentioned decision levels. The upcoming days will be filled with suspension!
DJIA REJECTION - SHORT TERM BEARISH BUT WILL RETEST PREVIOUS HIDJIA REJECTION - SHORT TERM BEARISH
Short Target As Indicated
Then I'm Expecting It To Retest Previous Highs
*Still On A Upward Channel And Showing A Bullish Sentiment
*Be Wary - Could Be Forming A Distribution Pattern
*My Bias Is Still Upside - Investors Showed A Lot Of Interest (Value) From September Crash
LET ME KNOW WHAT YOU THINK! 🧐
💡 IF YOU LIKE MY IDEA, PLEASE HELP AND SUPPORT MY CHANNEL BY
HITTING THE THUMBS UP, LEAVING A COMMENT AND FOLLOWING 💯
*You are Welcome to REQUEST CHART ANALYSIS at Anytime! Simply Comment Down Below or DM Me :)
````````````````````````````````````
⚠ DISCLAIMER:
Trading Involves High Risk! I Share My Trading Positions And Ideas With You For FREE
BUT Please Be Responsible For All Your Actions.
This Chart is Used for Educational Purposes Only And NOT A Recommendation to Buy or Sell the Asset.
DOW JONES 1D-TIMEFRAME ANALYSISDOW JONES 1D-TIMEFRAME ANALYSIS
Good evening ladies and gentlemen
This is my new idea for DOW
DOW price will test 25800 daily support
My idea shows the possibility of breaking this support
But be relaxed
Real support is between 24500 and 24800 It would be good to test it
From there we will start the bull market
I hope my idea is clear
Support me by like and share
Good luck
ridethepig | Dow📍 Major Updates on Dow, Nasdaq and S&P coming this week.
Equity buyers are not happy, the loss of the technical structure seeks compensation and yet in similar risky fashion the Portnoy crowd continue to buy the dip at over extended levels. The one missing aspect to their account, inflation, it will land a devastating blow to the real economy and eventually, when the Fed taps, the stock market will follow.
The Russell already broke down:
Late buyers are trapped. We are going to hear a lot more on the media about how investors continue to rotate to value, but the cycle down has already started and this is an advantage to sharp speculators. To the downside the levels to track 24,500; 22,800; 18,600.
Thanks as usual for keeping the feedback coming 👍 or 👎
ridethepig | Unfinished business in the Dow📌 General remarks
After we completed the breakdown as expected, we have a valid swing down for sellers. Today flows look set for a small pullback before continuation of the decline into 26,376 and 25,139 as the main targets below. This is a leg of two halves, we have a zig and a zag. We are trading the pullback in the Zig before we function the continuation of the zag, you get the point!
In this case, before we tackle the impulsive legs we should quickly check the behaviour of the market as we approach the C target. It can be concerning for some sellers that the possibility of continuation with vaccine holy grail - a valid and diagonally opposite force to the bearish case of a major cycle down in the global economy triggered via health crisis .
What all of these undermine is confidence and the powerful urge to take on risk diminishing. Vaccine or not, sadly there is no chance of this making its way around supply chains till 2021/2022 so we have at least 2-3 more quarters to get through in this cycle down. As I keep repeating, most recessions are typically 5 quarters in length and it is not uncommon for 1 or 2 of those quarters to be bullish, this is part of the repositioning battlefield.
US30 Buys Price is currently sitting in a range and we have experienced some bearish pressure this week due to FOMC interest rates unchanged. However, the Dow is overall bullish from higher timeframe analysis as indicated from my previous chart. Looking for an entry on 15 minute based on bullish structure being respected (Daily 78.6 tested and rejected).
50 Pip stop loss | TP 960 Pips
From the -27 Level I expect a rejection, so this is also where you can also go short.