Indexes
Indicator idea " USX "USX is the average of NAS100 , SPX500 and US30 (all from BLACKBULL data provider).
( average of the 3 Open = O ),
( average of the 3 High = H),
( average of the 3 Low = L),
( average of the 3 Close = C),
Plotted as candles using thoses OHLC, making a chart representing the average price action of indexes.
It is preferable to use on 15m TF (read the ORB part below).
Usage and inputs :
- An important part is the ORB box (Opening Range Breakout) sometime reffered as OPR (Opening Price Range).
This plot a box based on market opening candle (NY time, 15m) high & low.
This box will be colored green if close is above the half value of the box and red if below.
A basic strategy for Stocks and Indexes traders is to wait after open that the price break that 9h30 to 9h45 range an enter accordingly for a scalp in the dominant direction.
( Doesn't work everytime, even less for crypto, but i've been using this tool on each separate index for some time and let me tell you, at NY open the world is always somehow correlated to what happen in Wall Street. )
- Additionnal sma21,55,89 and AMA (the average of the 3 sma).
Optionnal trend confirmation based on the position of close relative to the 3 sma (simultanously above or below) and colored background assiociated.
- The possibility to use VERY lengthy (tweakable) RSI rather than standard average $ values but it's not very effective as the candles look awful (on any big timeframes)...
- In the input you can adjust the % of each of the 3 index in the total from 0% to 100%, so you can, for exemple put NASDAQ % IN INDEX more important than S&P % and DOWJONES even lower (as Crypto-currencies are generally more related to Tech sector).
That's it for now,
Don't hesitate to ask question, even if I've already said too much...
PS: That only an idea, yes the indicator is created and functionnal. Maybe i'll publish it, probably free + open source as i anyway explained everything ;)
Peace, may the profit be with you all
Dow Jones Index (US30): Breakout & Important Zone to Watch
Last week, we saw 2 important structure breakouts on US30:
first, the market violated a major rising trend line,
then, on Friday, a key horizontal support was also broken.
The broken trend line and a horizontal structure compose the expanding supply zone now.
I will expect a bearish reaction to that and a bearish movement to 33750 support.
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Dow Jones Index (US30): Important Breakout & Bearish Outlook
An important thing happened on US30 Index.
First, the index broke and closed below a major rising trend line
and closed below that on a daily.
Second, a key horizontal support was also broken yesterday.
The broken support and a trend line compose the expanding sell zone.
I suggest shorting the Index from there, expecting a fall to 33700 support.
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Dollar Index (DXY): Important Resistance Ahead! 💵
Dollar Index is currently testing a significant resistance cluster 104.85 - 105.50.
The reaction of the price to that area will determine a further direction of the Index.
Bullish breakout of that and a weekly candle close above will confirm a long-term bullish reversal, with a highly probable consiquent bullish rally.
Alternatively, watch a rising parallel channel on a daily.
Its support breakout will initiate a correctional movement.
I will post the update once I spot a solid confirmation.
For now, stay patient and wait for the reaction.
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Dollar Index (DXY): Bullish Outlook For Next Week Explained 💵
Dollar Index was nicely rejected from a broken horizontal resistance.
Taking into consideration, that the market is trading in a bullish trend,
probabilities will be high that we will see a bullish trend continuation next week.
Next goal - 105.28
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Dollar Index (DXY): More Growth is Expected 💵
Dollar Index broke and closed above a key daily resistance.
Such a violation will most likely trigger a further growth, because the market is trading in a bullish trend.
I believe that the market will reach 105.3 level soon.
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Dollar Index (DXY): Technical Outlook 💵
Dollar Index is currently trading between 2 important structures on a daily.
Depending on the reaction of the price to the underlined areas,
I see 2 potential scenarios.
If the price breaks and closes above 104.8 resistance,
I will expect a trend following movement at least to 105.5 level.
If the price violates 103.9 support and closes below,
a bearish movement will be anticipated to 103.0 level.
As always, breakout is your best confirmation. So wait patiently!
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Dollar Index (DXY): Important Key Levels to Watch 💵
Here is my latest structure analysis for Dollar Index.
Resistance 1: 105.00 - 105.10 area
Resistance 2: 105.68 - 105.88 area
Support 1: 104.28 - 104.7 area
Support 2: 102.60 - 103.10 area
Support 3: 101.75 - 102.00 area
Support 4: 100.55 - 100.68 area
Support 5: 99.57 - 99.75 area
Consider these structures for pullback/breakout trading.
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Dow Jones Index (US30): Structure Analysis & Key Levels
Here is my latest structure analysis for Dow Jones Index.
Resistance 1: 35000 - 35150 area
Resistance 2: 35480 - 35570 area
Resistance 3: 35620 - 35690 area
Support 1: 34490 - 34690 area
Support 2: 34020 - 34100 area
Consider these structures for pullback/breakout trading.
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Dollar Index (DXY): Important Key Levels to Watch 💵
Here is my latest structure analysis for Dollar Index.
Horizontal Key Levels
Resistance 1: 104.3 - 104.7 area
Resistance 2: 105.7 - 105.9 area
Support 1: 102.6 - 103.3 area
Support 2: 101.7 - 102.0 area
Support 3: 100.5 - 100.7 area
Support 4: 99.5 - 99.8 area
Vertical Key Levels
Vertical Support 1: Rising trend line
Consider these structures for pullback/breakout trading.
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Dollar Index (DXY): Important Resistance Ahead 💰
Dollar Index is currently testing a solid key daily resistance.
To catch a bearish wave from that, watch a major rising trend line.
Its breakout - daily candle close below will be a strong bearish signal.
A bearish continuation will be expected at least to 103.3 level then.
Alternatively, a bullish breakout of the underlined blue are will push the prices higher.
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Dollar Index (DXY): Important Update Ahead of Powell Speech 💸
Dollar Index is in a strong bullish rally since the middle of July.
However, to me, the market looks very overbought.
On a 4H time frame, we see the so-called Exhaustion Gap.
It usually appear at the end of the bullish move and signifies the
last attempt of the buyers to push the prices higher.
I believe that probabilities are high that the gap will be filled soon.
Of course, do not forget that we are expecting Powell Speech 10 am NY time.
It can affect the Dollar related instruments dramatically, so be careful.
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NASDAQ INDEX (US100): Your Trading Plan
US100 is currently testing a solid horizontal resistance.
The formation of a doji candle on that indicates a local equilibrium between
buying and selling volumes.
To sell the underlined structure with a confirmation,
monitor 4H time frame
The index formed a double top pattern there and consolidates.
Bearish breakout of 14880 neckline and a 4H candle close below that,
will be a strong bearish signal.
Goals will be 14760 / 14680.
Alternatively, a new higher high higher close on a 4H will invalidate the setup.
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Dow Jones (US30): Bullish Move From Key Level Explained
Dow Jones Index is trading in a bullish trend.
After the price set a new higher high on a daily, it retraced to a key daily structure support.
A doji candle was formed on that.
Analyzing a 4H time frame, we can spot a confirmed bullish breakout of a resistance line of a falling channel and an inverted h&s pattern formation with a violated neckline.
These bullish clues make me think that the price may bounce.
Goals will be 34820 / 35050
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S&P 500 Daily Chart Analysis For Week of August 18, 2023Technical Analysis and Outlook:
This week, the Spooz index finalized its down move by completing the Inner Index Dip 0f 4340. However, a strong rebound is possible with Mean Res 4460 as a primary target. On the downside, price action might churn about the completed Inner Index Dip 4340 and Mean Sup 4330 before taking off to the upside. Notwithstanding, if all fails, the market will take us to the Next designated target of Inner Index Dip 4212.
Dow Jones Index (US30): Another Bearish Patter
We have already spotted earlier a bearish reversal on US30.
After some consolidation, the market leaves one more bearish clue:
the price formed a big double top pattern formation on a daily.
Its neckline was broken this week.
The index may keep falling to 34600 support.
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S&P500 INDEX (SPY): Your Trading Plan
S&P500 Index is currently testing a key daily structure support.
To buy the market with a confirmation, watch a double bottom pattern on 4H time frame.
4487 level is the upper boundary of its neckline.
If the price breaks and closes above that on a 4H, it will be a strong bullish signal.
A bullish movement will be expected 4517 level then.
Alternatively, if the price sets a new lower low on a 4H, the setup will become invalid.
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