Dowjonesindustrial
Is It Time For The Recovery? Or More Down Side? (DJI)Their is a lot to study here.
Ever since our initial breakout we have not seen a retest on the breakout to test for a support.
Each impulse has decreased roughly by 7% each push back up.
The last wave was a 7% impulse as we reach the level of Resistance.
The decrease in buy percentage could represent a correction to come.
24815 is key break level for upside continuation.
If it did fail to breakout out I'd look to play a bounce off the downward breakout level to see if we can find support.
Total we have 5 waves up to current level. Could be end of a wave cycle.
I know that these times have impacted many lives and ultimately I just wish it would fly back up and the world can go back to work.
Very critical area for the stockmarket around these levels.
Enjoy.
US30, Fifth Wave Completion, ABC Reversal begins (Time to Short)Hey guys, check this shit out...
The five wave Elliott cycle has pretty much come to an end (nice divergence can be seen by the fifth wave climbing while the RSI shows an overbought situation with consecutively descending peaks) which is also confirmed by a zone of possible resistance coinciding with the same zone evident on the 10th of March 2020. In this case my prediction is that a nice reversal is due (as illustrated by the ghost feed I've drawn on my short box) with a first take profit targeting the 0.382 retracement on Fibonacci and a possible second take profit at the 0.618 Fib zone (the first take profit leaves us with a R/R ratio of roughly 1:3.
Let's get this bread guys and feel free to leave any comments! :)
Dow- 25k should be soldFrom an economical perspective, Dow has no place at 25k...
From a technical perspective, 25k is the confluence of Fibo 61% and horizontal resistance and it should be sold
SL must be kept wide to avoid spikes and aberrations and as target 20k should be a soft one
Dow Jones : Long up to 25 300 ? (Elliott's Waves)After today's situation, I came to the conclusion that we are in a 5th wave that can lead up to 25 300, AS LONG AS IT DOESN'T GET TRUNCATED
25 300 would match a 0.618 retracement of the big drop to 18 200
If we reach 25 300 and then move back down, it might mean that we would start the 3rd wave (3 out of 5) which would go lower than the first wave (at 18 200).
I might go long if we break the 3rd wave high, and then if we hit target of 25 300, all SHORT !
Dow Futures now short. MACDH divergenceHere we are with another go at a dow short after the failed attempt last night (but with some nice follow through longs today).
Now we can see a 1hr MACDH and RSI divergence in overbought territory. We can also see an inverted hammer candle showing potential reversal. There should be some downside potential here. These types of divergences are my A* trades and often give good profit due to the extreme divergence on the MACD histogram. Stop is at 24220. If I get stopped out again that would indicate a lot of buying power and I would expect a run up again, so another opportunity to simply reverse and go long if this short fails.
My Outlook On The DOW (DJI)Ascending wedge break to the right of long term upward support with highs being hit at 24150 key area of Resistance to test for an attempt at an upward breakout.
23000 is support area for the current range.
Weekly crossover for bullish shift and the ema dots are firing green.
But, keep in mind that we don't have a close on the weekly till may 4th.
Overall the weekly is in development and trying to recover from the crash.
We want to watch the open and see if it can push through 24150 with good volume pushing on the books.
Currently the one hour is green. If I get a Crossover on the 1 hr to the downside from rejection I'd than look for a 24000 break for a short to test 23000
If breaks to the upside your going to want to see it push towards the old wedge support and see if it rejects as new Resistance. That would be a good place to take profits.
We need to keep in mind that the monthly and the 3 month are overall bear pressure.
We now scout the weekly to try and find a good long term position to enter here, but it results in if we want to make higher highs or lower lows on the smaller timeframes
We still have to be conservative with the higher timeframes.
If this ranges breaks down than it could be a Distribution play and could result in a good size drop.
I hope this helps, I wish you all the best of luck trading this week!
Have a blessed day. 😁
Dow Jones, Elliott's Waves, Wave C to be completedHello,
here is my first graph with Elliott's Waves. I m new to this, and it can be totally wrong, but I do see 3 potential short-term targets on the 4h chart. Any of those could act as a resistance and then we would start going back down.
I might try a quick LONG with a tight SL if we break the 23 878 and then get SHORT anytime we get close to 24 200 with a SL at 24500. And go short directly if we don't confirm a break above 23 878
Let me know what you think, thanks !
Time to long - RSI is above 60, this is a bull signal for my strategy.
- Price is above 200 EMA.
- There is a clear Reversal head & shoulder pattern.
If all works, we're ready to go.
TP1 and TP2 are on chart.
Follow Red trend line for SL ( follow 4h close price)
Dow sell. Lower high post breakoutHere we have a lower high on the 1hr chart on the dow after a breakout of the rising wedge on the daily. Nice engulfing pattern too on the 1 hr candle. Its currently trading above the 200HMA but with all other moving averages are crossed under so its good value for a short here. We could expect some selling pressure here in overbought territory and a test in the first instance of the rising trend line and maybe lower. 4 Hr 200MA is still sloping downwards and daily MA's are still bearish. I'l be looking to scale out some profits at the rising trend line and a break of the swing low on the hourly charts.
DJI ideaH&S within a rising wedge on the hourly. Higher high has not been made and a reversal candle has formed on the hourly (Confirmed on the 15 min)
#Dow30 - 1929 vers. 2020? #US30USD #DJIIn 2020 everything went much faster than in 1929 but could the Dow30 go through the same structure?
If in 2020 the A = C becomes the same as in 1929, then the Dow still has room for 25,558 points in the short term.
Maybe the Dow will do something completely different and climb to new all-time highs, because everything is only half as bad and the world is back to the "old" on Monday and everything is back to normal.
However, this structure should be observed more intensively at least in the coming weeks.
Greeting
Stefan Bode
#Dow30 - 1929 vers. 2020? #US30USD #DJI
dow slow down !Here u can see price isoving in decending chanel, where risk reward ratio might great.
and you can think to buy put,for short term.
close down to 50 ema ,and rsi divergin is showing downtrend,as well mass index .
DJI may face the greatest crash..... DJI had broke down from the 200EMA. Base on Fibo 1.618 the target is in the range of the yellow box, coincidentally collide with the historic support...jobs are loss from all over the world...not just USA alone. Prepare for the worst...
Dow Jones Index Mark UpToday we're analyzing the US30!
Bias: Neutral
I would like to start off by saying that I'm in the middle due to me leaning more bearish than bullish. Why? Price Action is rallying back towards the high end of the curve where an untouched HTFZ ($27325-$29594) is waiting, but on the other hand I'm bullish with P.A's current movement for obvious reasons. I would expect price to repel off the PPZ ($24561) only to find support underneath at the continuation zone ($23197-$23634) and from there to print new HLs & HHs.
Confluence *Bull's Favor* (3 or more):
1. Interesting Price Action activity around the $18000 level. *Let me know what you think about this one*
2. Order Block formed ($20607-$25149) right before breaking above PPZ ($22127).
3. Price Action closed above Weekly 200MA. Significant.
4. Bullish Order Block formed ($23197-$23634) right below Weekly 200MA. Massive support.
5. 'V' shape return. *If unaware of this pattern be sure to research it*
I'm more bullish IF there's a B.A.R. of the $29594 level, but if price manages to reach the Order Block at the high end of the curve then expect it to be there for a minute considering it's size. We shall see.
Us30 - from FridayPrivate trade we took
Cannot upload everything we analyse - but this one was necessary as the target is was left to its own device here.
We only used a 0.5 contract to run to the target
and closed the other 1.00 before at target I.
The reason for the trade?
W bottom formation - included a double bottom on the 15min pattern.
We entered early and then as the rejection of the double bottom. again.
With indices you have to use a larger stop but with correct entry points it is possible to have smaller ones.
The base consolidated in the box and had some rejection wicks. we waited for the zone to re-enter to signify a fakeout.
US30 DOW JONES ANALYSIS DJI BUY OR HUDGElook at this magnificent bullish divergence with confirmation of the breakout of the RSI50 and the breakout and correction on the FIBO 50%
Very tight stop loss and TP1: 25018 TP2: 25698
possibility of hudge
Dow ready to come back to earth! The market has been rallying on positive news of antivirals and re-opening the economy. Could this be the time to go short. Is this rally over? I think so. To me it seems reasonable to believe that we will either retest the lows or make new lows and follow this EW pattern that I have outlined.
US30 longGreat rejection candle zone within the demand zone.
We missed the initial sniper entry - however caught the second candle.
Risk free at current - if price falls back into the zone we will re-assess the trade.
Let us see.
Enjoy the trade.
Dow Jones Fibonacci SpiralsInteresting Dow fib spiral showing three bottom points, will the symmetrical wedge be a bulltrap? we will see.
Wall Mart vs Dow : Bottom Indicator to watchWall Mart NYSE:WMT is making new all time highs - interesting to monitor the WMT / DIA ratio as a potential long term equity lows indicator. Close but still not there.
Dow Jones - Macro OutlookWelcome to the first of my macro market ideas. My goal is to have a post for each market sector to give you a long term perspective of the given asset class, so that you are able to drill down to smaller time frames and make wise and calculated trades.
The Dow Jones Industrial Average has market data on TradingView going all the way back to 1915. Since the Dow is the most mature index for US stocks, it is inherently the market leader. Having a long term grasp on where the Dow Jones is headed will tell you where we are in the market cycle, and help you understand when it is a good time to long or short stocks.
I will update this thread on a monthly and sometimes weekly basis with my current perspective on where price is headed.
While there are many political and economic factors that impact the Dow, I will do my best to keep this thread purely technical in nature.
Please feel free to leave a comment below with any questions at all. I am happy to answer.
Best Regards,
Micah J Miller
