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Dowjones

Market Dynamics: Large Players Enter as Price Reaches Highs The price has been on a significant bullish rally, breaking historical highs. This suggests that the price has encountered strong buying interest, indicating the presence of buy-side liquidity. From a technical perspective, this suggests that a retracement may be imminent. As further confirmation, on the daily chart, we can see that the price reached the liquidity of its previous high and swiftly reversed, creating a breaker pattern. If the price continues to decline, it is likely to experience a shallow retracement to prevent buyers from recovering all their losses. Additionally, in the highlighted area, we can clearly observe a decrease in buying activity and an increase in aggressive short positions. This could be an indication of the involvement of institutional or large traders, and it's something to keep a close eye on. Furthermore, the catalysts scheduled for tomorrow add more weight to the possibility of a correction. In my experience, this type of price action often occurs before significant market-moving events. A significant correction is highly probable. For setting stop-loss (SL) levels, I've shared both aggressive and conservative ideas. I've also provided take-profit (TP) levels based on Fibonacci retracement levels at -272 and -618, with the last one indicated by the white line on the chart. Please note that trading involves risks, and it's essential to use proper risk management techniques and consider your own trading strategy and risk tolerance when making trading decisions. This analysis is for informational purposes only and should not be considered as financial advice.
CAPITALCOM:US30Short
by Wiiso
2
DOW JONES Correction expected due to insanely overbought RSI.Dow Jones (DJI) easily hit last week's (December 12) target (37000) at the top of the 2-month Channel Up (see chart below) with the price grinding ever since on its top: That was a short-term signal, today we shift our attention to the medium-term and the 1D time-frame where the 1D RSI is 'insanely' overbought near 87.50, a level it hasn't touched since January 2018. In fact if we look a little longer, we can see a perfectly fitting sequence with today's price action in late 2016. The 1D RSI got hugely overbought at 87.40 on December 13 2016 and pulled-back to the 1D MA50 (blue trend-line) before resuming the uptrend. This overbought 1D RSI peak was made after two straight Channel Downs leading to approximately +9.58% and +14.50% rises, which is quite similar to what's been happening since April. This tells us not to engage in any buying any more, even though due to being on the end of year euphoria and post Fed rate cut anticipation, it can rise some more. But the risk is higher now than buying near the 1D MA50 again. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US30
by TradingShot
1
⚠️ XAUUSD : Important Weekly Update (Read The Caption)By checking the gold chart in the weekly time frame, we can see that the price is still in the trading range of $2000, and if the price stabilizes below $2049, we can expect more fall from gold! Note that in order to continue and stabilize the downward trend, the price must penetrate below $1974 and the weekly candle closes below this price! The price is currently in a very important range for decision-making, which can determine the medium-term trend! Please share your opinion about the possible trend of this chart with me and support us with your likes and comments. Best Regards , Arman Shaban
OANDA:XAUUSD
by ArmanShabanTrading
3
DOW JONES has entered the SELL ZONEDow Jones / US30 has broken into the 0.786 - 1.000 Fibonacci zone, which is the top range of the Channel Up since September 2022. That is the most efficient range to start adding shorts as a corrective Channel Down is expected to start in January. Wait for the 1day MACD to form a Bearish Cross. Target 35450, which is the 0.236 Fibonacci level and has been touched by both previous Bearish Waves of the Channel Up. Previous chart: Follow us, like the idea and leave a comment below!!
CAPITALCOM:US30
by TheCryptagon
DOW JONES - If This Count Is Accurate, The Last Wave Has Begun.While the channeling doesn't align entirely with my preferences, the symmetry resulting from the alternation, particularly between major Wave 2 and Wave iv of Wave 3, effectively constrains the price action. Notably, the correction spanning from 2018 to 2022 is identified as major Wave 4, which, in my assessment, appears relatively minor due to prior alternation patterns. I'd like to draw attention to the expanded corrections, predominantly observed at the upper end, each validated by AriasWave counts in terms of wave identification. It appears that we are currently in the conclusive phase of major Wave 5, expected to conclude around the 54,000 mark if its length is approximately akin to that of Wave 1. The upcoming months will be intriguing to observe developments in this vicinity. It is worth noting the characteristic nature of Wave 5 as a perceived weak final move, a fitting observation given the prevailing market conditions and the absence of significant strength in other markets.
TVC:DJILong
by AriasWave
2
DOW JONES Channel Up still intact.Dow Jones reached the top of the Channel Up that started in late October and turned sideways. The longer this pattern stays intact, the more every pull back is a buy opportunity. The MA50 (4h) is supporting since November 1st, showing the sheer strength of this bullish trend. Trading Plan: 1. Buy on the current market price. 2. Sell below the MA50 (4h). Targets: 1. 37800 (under the 1.382 Fibonacci extension which was the target top of the mid November consolidation). 2. 35600 (projected contact with the MA200 4h). Tips: 1. The RSI (4h) sequences among the two bullish legs are identical, confirming the bullish sentiment towards the 1.382 Fibonacci. Please like, follow and comment!! Notes: Past trading plan:
CAPITALCOM:US30Long
by TradingBrokersView
DOW JONES: Correction imminent. Buy at the right time.Dow Jones made new All Time High yesterday and today reached the 0.786 Fibonacci Channel level of the 14 month Channel Up pattern. Needless to say it is massively overbought on the 1D timeframe (RSI = 79.702, MACD = 696.100, ADX = 90.584). The sheer strenght of this rise since the October 27th bottom can only be compared to the first rise of the Channel in October-November 2022. After almost reaching the 0.786 Channel Fibonacci level, it pulled back to the 0.236 horizontal Fibonacci and then moved to a +19% rise before a consolidation that made the Channel's blow off top. Consequently, we cease our buying at the moment and will wait for that short term correction to the 0.236 Fibonacci (36,160). This will be our next buy entry to target the +19% extension (TP = 38,450). ## If you like our free content follow our profile to get more daily ideas. ## ## Comments and likes are greatly appreciated. ##
CAPITALCOM:US30
by InvestingScope
DOW Elliott Wave Analysis for Friday 15/12/2023We made a new high in the DOW JONES and this has some implications. The wave ((2)) low could be in after a triple three correction or WXYXZ structure. This would mean that we are now working on an impulse. The upward structure is strong and we start to see 5 waves. It becomes less likely that the upward move is corrective. In case the upward move is corrective, it could be that we are still working on the wave ((2)) but as an expanded flat.
OANDA:US30USD
by AndyCuckoo
UPDATE: Dow Jones almost reaching target at 37,242SInce the price broke above the breakout pattern, the price has been moving on a strong but unsustainable inclination trend. Yes, it will most likely hit the initial target 37,242 as we're almost there. But, we also need to consider that in the next three weeks, we could have some consolidation range. This doesn't mean, we should expect a crash afterwards. On the contrary with the US dollar weakening and with the interest rate hike on hold - means we should expect futher upside in 2024. But I'll let you know...
DJ:DJILong
by Timonrosso
DOW JONES Does this rally still surprise you?Two months ago (October 11) we made a bold statement calling for "the start of a new Bull rally under our nose" on Dow Jones (DJI) (see chart below): Many traders/ investors/ market participants have been surprised by the current November - December rally but in reality they shouldn't as the index is methodically repeating the 2016 - 2017 Rising Wedge pattern, as we've shown on that analysis. We are now at the level where the price is breaking above that pattern (blue circle), which comes after the 1W RSI makes a fake-out break breach below the Higher Lows and then rebounds. On the current analysis we expand the chart more, in order to show you that the very same Rising Wedge also emerged from May 2011 to December 2012. We are therefore on a +10 year cyclical pattern which the all three Wedges not only displaying identical break-outs/ fake-outs but also similar duration. The 2011/12 pattern peaked on the 2.618 Fibonacci extension, the 2015/16 a little higher on the 3.0 Fib ext. We can assume that this progression could give a new top on a higher Fib, but if we take the worst case scenario of the model (2.618 Fib), we can expect a High around 42900. Check out also how the Sine Waves grasp fairly accurately the cyclical movement on those bottoms and peaks during these past +10 years. Another important observation is that after the index broke above the Rising Wedge in 2016, it didn't offer any significant dips to buy. Rare buy entry opportunities existed only on the middle trend-line (orange) of the Bollinger Bands. The 2013 break-out gave significantly more dips buy opportunities, 7 in total all marginally below the Bollinger middle, before the 2.618 Fibonacci peak. ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
TVC:DJILong
by TradingShot
US30: Thoughts and Analysis Pre-FOMCToday's focus: US30 Pattern – N/A Support – 36,280 Resistance – 36,900 Hi, and thanks for checking out today's update. Today, we are looking at US30 on the daily chart. Today's video asks if US30 will continue to track higher despite being well off its moving average. This can be a warning if you believe in mean revision. The other point we are looking at in today's report is whether we will see a stall at resistance and previous highs if the price continues to increase. A key driver could be tomorrow's FOMC; traders will be looking to see if rates remain on hold as expected and what we will hear from the FED in the statement and projections. Ideas are that we could see an end to aggressive rate policy, and what could be coming next? If it's dovish, we will look for stocks to rally; if it's hawkish, we will look for stocks to decline. Expectations are already in for May rate cuts to be priced in. Will we hear anything from the Fed to substantiate this? The FOMC will be held at 6:00 am AEDT, and the FOMC press conference will be held at 6:30 am Thursday. Good trading.
ULong
by Eightcap