Indexes
Dollar Index (DXY): Your Trading Plan Explained
Dollar Index formed a descending triangle formation on a daily.
Trading in a bearish trend, this pattern signifies a bearish accumulation.
Look for a bearish breakout of a neckline of the pattern next week.
Daily candle close below 101.9 will confirm a violation.
A bearish continuation will be expected to 101.0 level then.
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Dollar Index (DXY): Support & Resistance Analysis
Here is my latest structure analysis and important
key levels to pay close attention to on Dollar Index.
Resistance 1: 103.25 - 103.70 area
Resistance 2: 103.85 - 104.15 area
Resistance 3: 104.57 - 104.87 area
Resistance 4: 105.12 - 105.49 area
Resistance 5: 106.05 - 106.13 area
Support 1: 102.16 - 102.57 area
Consider these structures for pullback/breakout trading.
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Dow Jones Index (US30): Detailed Support and Resistance Analysis
Here is my latest structure analysis
and important key support and resistance levels to pay close attention to.
Vertical Structures
Vertical Resistance 1: Rising trend line
Horizontal Structures
Support 1: 38250 - 38550 area
Support 2: 38015 - 38105 area
Resistance 1: 39500 - 39700 area
Resistance 2: 39800 - 39960 area
Resistance 3: 40900 - 41415 area
Consider these structures for pullback/breakout trading.
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Dow Jones Index (#US30): Your Trading Plan Explained
Dow Jones is currently stuck on a key daily/intraday horizontal resistance.
The price is trading within a narrow range on that on a 4H time frame.
Your confirmation to sell the Index will be a bearish breakout of the support of the range.
A 4H candle close below 39325 will confirm the violation.
A bearish continuation will be expected to 38890 then.
Alternatively, a bullish breakout of the underlined blue resistance
will push the market higher.
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Dow Jones Index (US30): One More Bearish Setup
I also see a bearish trend following setup on Dow Jones.
After yesterday's selloff, the market started a correctional movement.
On an hourly time frame, the market found a resistance around 39100 level
and formed a double top on that.
I think that the Index may drop at least to 38655 level.
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DOW JONES INDEX (US30): Oversold Market & Pullback
I think that Dow Jones may pullback on Monday.
The Index became heavily oversold after the release
of US unemployment data on Friday.
The price formed a double bottom pattern on an hourly time frame
and violated its neckline.
I suppose that the price may bounce to 39800
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Dollar Index (DXY): Bearish After The News
The today's fundamentals are very bearish for Dollar.
I think that a bearish rally will continue and a breakout
of a key daily horizontal structure support is valid.
We can expect a bearish movement to 103.7
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Dow Jones Index (US30): Intraday Bullish Signal?!
Update for the yesterday's setup on US30.
Earlier, we spotted a confirmed breakout of a key daily resistance.
After that, the market retested the broken structure and started to
consolidate within a narrow range on a 4H time frame.
The resistance of the range was broken this morning.
It is a strong intraday bullish signal.
Growth may continue to 21250
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Dollar Index (DXY): Bearish Trend Will Continue
Dollar Index is trading in a bearish trend on a daily.
After the market set a new lower low lower close earlier this week,
it started a correctional movement.
Ahead, I see a solid resistance cluster.
Probabilities will be high that the price will drop from the underlined
area at least to 103.75 level.
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DOW JONES INDEX (US30): Bullish Trend Continues
US30 index updated the ATH this week.
The market managed to violate a resistance level
based on the last higher high and close above that.
The Index has a nice potential to go higher.
Next resistance - 40800
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NASDAQ INDEX (US100): Bullish Rally Continues
I see one more bullish pattern on US100 index.
This time it is the ascending triangle formation.
The price successfully violated its neckline and closed above that.
It is a strong bullish trend-following pattern.
With a high probability, growth will continue.
Next resistance - 20500
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Dollar Index (DXY): Bullish Trend Continuation Pattern
I see a nice bullish pattern on an hourly time frame on Dollar Index.
After the price set a new higher high, the market started a correctional
movement within the expanding channel.
Such a channel is called a bullish flag pattern.
Bullish breakout of the resistance of the flag is a strong bullish
trend-following signal that indicates the strength of the buyers.
With a high probability, the market will keep growing.
Next resistance - 106.25
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Dollar Index (DXY): Bullish Trend Continues
Dollar Index set a new local higher high higher close
on a daily time frame yesterday, violating a key daily horizontal resistance.
With a high probability, the broken structure and a rising trend line
compose a demand zone now.
The market will most likely keep growing.
Next resistance - 106.3
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Dow Jones Index (US30): Your Trading Plan For Today
Dow Jones Index is testing, a recently broken
key daily resistance.
With a high probability, the broken structure turned into support.
Our confirmation to buy will be a bullish breakout
of a neckline of an ascending triangle formation on 1H time frame.
Hourly candle close above 39185 will confirm the violation.
A bullish continuation will be expected at least to 39325.
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Plan Your Trade 6/24/24 - Prepare For Rolling Price ActionThis continued video series focused on my SPY Cycle Patterns teaches you how to plan for future price swings and bigger trending days.
Today, I expect the SPY to stay relatively muted in trend—possibly moving downward overall. The Up-Down-Up (countertrend) pattern suggests that the price will want to move downward today, perhaps setting up support near $541.50 to $542.50.
I don't expect anything big to happen today as today's pattern is followed by three days of an upward price trend. That upward trend is your opportunity for profits.
Tuesday, Wednesday, & Thursday look like a bigger opportunity for long trades than Monday or Friday.
Friday's CRUSH pattern suggests a fairly strong downward price trend. I would be cautious of taking long positions on Friday until possibly the last 60-120 min of the day (if we see a short squeeze setup).
Please use this information efficiently. I'm trying to show you how to use my SPY Cycle Patterns to plan your trading and find the best opportunities.
I will have more info tomorrow as I continue this video series.
Dollar Index (DXY): The Market May Go Higher!
Friday's fundamentals were very bullish for Dollar Index.
The market formed a strong bullish candle on a daily and reached a key horizontal resistance.
Next week, wait for a bullish breakout of 105.56 resistance and a daily candle close above that.
It will be an important sign of strength of the buyers.
The market will most likely keep growing then to 106.0 level.
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NASDAQ INDEX (US100): Potential Scenarios Ahead of FOMC
NASDAQ Index is currently consolidating within a horizontal range.
Most likely, the market participants are waiting for the FOMC tomorrow.
Depending on the reaction of the market to the boundaries of the range,
I see 2 potential scenarios.
Bullish Scenario
If the market breaks and closes above 19115 the resistance of the range,
with a high probability, a bullish rally will continue.
Bearish Scenario
If the Index breaks and closes below 18880 the support of the range,
it may initiate a correctional movement.
I think that US100 may keep being weak before the news release.
Let's see what direction the market will choose tomorrow.
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Dollar Index (DXY): Classic Gap Trade
I see a nice gap up on Dollar Index.
As always, chances are high that it will be filled soon.
Approaching a key daily horizontal resistance,
the Index started leaving bearish clues.
I spotted a confirmed breakout of a support line of a symmetrical
triangle formation on an hourly time frame.
The Index may drop soon and reach 104.95 level.
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NASDAQ INDEX (US100): To The Next Highs
One more instrument that we discussed on the today's live stream
is US100 Index.
This week, the market updated the all-time high, violating a key horizontal resistance.
With a very bullish fundamental data, the Index has a nice growth potential.
Next resistance - 19300
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Nifty DivergencesNifty Divergences
On a weekly timeframe, Nifty 50 Index is making obvious divergences
Price is making a new high while MACD histogram is in a downward slope
Price is making a new high while the Force Index is dropping even below the 0 line today.
One positive aspect for the bulls, though, is that it found support exactly where it was needed the most. On the centre line
Are you a bull or a bear here?