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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Indexes
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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S&P500 INDEX (US500): Bearish Pattern & Pullback
S&P500 Index formed a head and shoulders pattern on a daily time frame,
trading in a bullish trend.
The breakout of the neckline of the pattern signifies the local exhaustion of the
buyers and highly probable coming correctional movement.
I expect a bearish movement at least to 4465
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Continental CON Long term bullish cycleOur probability indicator has observed Long Term BOS (Break-of-Structure) on Daily TF.
Essentially what that means is that we closing in on bearish cycle for XETR:CON and new bullish leg is forming for longterm continuation of new bullish cycle.
We expect further bearish correction to 68.30 - 64.80 zone ( Current Inverse H&S pattern support zone ) where conditions for perfect LONG entry occur.
Take-Profit should be set within High resistance zone 114.50 - 139.30
Dow Jones Index (US30): Potential Bearish Movement Explained
Dow Jones is currently ranging.
The market is stuck within a wide intraday range.
Testing the upper boundary of the range, the market was rejected heavily
and the price broke and closed below a support line of a rising channel.
We see its retest now.
I expect a bearish continuation to the support of the range - 35300
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MarketBreakdown | Dollar Index, USDCAD, US30 Index, GBPJPY
Here are the updates & outlook for multiple instruments in my watchlist.
1️⃣ Dollar Index (DXY) daily time frame 💲
After a test of a key daily structure resistance, we see a positive bearish reaction from that.
It looks like the Index will keep retracing to lower levels.
2️⃣USDCAD daily time frame 🇺🇸🇨🇦
The market is currently approaching the neckline of an ascending triangle formation.
Following the local weakness of a greenback, the pair may drop one more time from
the underline horizontal line to a rising trend lien.
3️⃣ US30 Index weekly time frame
The index reached a key weekly structure resistance.
Strong rejection on a daily time frame signifies a local overbought state of the market.
I will expect a pullback from the underlined level.
4️⃣ GBPJPY daily time frame 🇬🇧 🇯🇵
The pair successfully violated a key daily horizontal structure support.
The broken structure turned into a resistance now.
The market will most likely keep falling to lower levels soon.
Do you agree with my market breakdown?
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Dow Jones Index (US30) Technical Outlook Ahead of FED
US30 Index is currently trading on a key daily structure resistance.
The market is consolidating on 4H time frame,
forming a head and shoulders pattern.
If the price breaks and closes below its neckline (35330 level),
I will expect a bearish continuation, at least to a support line of an expanding wedge pattern.
Bearish breakout of the support of the wedge, will push the Index even lower.
Alternatively, a bullish breakout of the underlined blue structure on a daily will be a strong
bullish signal.
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Dollar Index (DXY): Important Key Levels to Watch 💵
Here is my latest structure analysis for Dollar Index.
Resistance 1: 101.00 - 101.2 area
Resistance 2: 101.90 - 102.05 area
Resistance 3: 102.73 - 102.95 area
Resistance 4: 103.34 - 103.57 area
Support 1: 99.40 - 99.75 area
Consider these structures for pullback/breakout trading.
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Dollar Index (DXY): Update & Time to Grow 💵
Update for Dollar Index.
As you know, at the beginning of the week, I shared a very bullish forecast for the Greenback.
After a strong bearish wave, the market started to consolidate within a horizontal range.
The resistance of the range was finally broken and we see a position bullish reaction
to that after its retest.
I expect growth now.
Goal - 100.73
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Dollar Index (DXY): Oversold Market & Time For Pullback 💵
After the CPI report this week, Dollar Index dropped rapidly.
Ahead, I see a confluence zone based on a completion point of a harmonic abcd pattern
and a horizontal historical key level.
From the underlined blue area, I will expect a bullish movement at least to 100.58 level.
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Nasdaq Index (US100): More Growth is Ahead
NASDAQ Index broke and closed above a neckline of a cup and handle pattern
on a daily, following the yesterday's CPI report.
Taking into consideration, that the index is trading in a strong bullish trend,
that violation will most likely trigger a strong bullish wave.
I will expect growth to 15600.
For entries, consider an occasional retest of a broken neckline.
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NASDAQ Index (US100): Bullish Rally is Comming
Today's CPI report is very negative for the Greenback.
Gold, major forex pairs and indexes started to grow rapidly.
US100 index formed a cup & handle pattern on a daily time frame.
The market is currently testing its neckline.
If a daily candle closes above that,
probabilities will be high, that the growth will continue.
Next goal will be 15600
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MarketBreakdown | Dollar Index, USDCHF, S&P500 Index, AUDJPY
Here are the updates & outlook for multiple instruments in my watchlist.
1️⃣ Dollar Index (DXY) daily time frame 💲
The Index broke and closed above a resistance line of a falling expanding wedge pattern.
It was retested on Friday.
Probabilities are high, that a bullish movement will initiate from a broken trend line soon.
2️⃣USDCHF daily time frame 🇺🇸🇨🇭
The pair keeps consolidating. The market is stuck within a horizontal range.
For now, the plan is to wait for a breakout of one of its boundaries.
A bearish breakout of the support of the range will trigger a strong selloff,
while a bullish breakout will be an important bullish signal.
3️⃣ S&P500 Index (SPY) daily time frame 💲
The market is currently testing a local daily high.
If the price violates and closes above that, it will be a strong bullish signal.
A bullish continuation will be expected then.
4️⃣ AUDJPY daily time frame 🇦🇺🇯🇵
The pair is trading in a long-term bullish trend.
After the price set the last high, a correctional movement started.
The pair formed a falling wedge pattern.
Its resistance was broken last week.
I believe that a trend-following movement will initiate soon.
Do you agree with my market breakdown?
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Dollar Index (DXY): Very Bullish Pattern 💵
Dollar Index broke and closed above a resistance line of an expanding wedge pattern this week.
I believe that probabilities will be high, that we will see a bullish movement from that next week.
After a retest of a broken trend line, a bullish continuation will be expected to 103.6
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