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DJI - Head and shoulder formation?! Hello traders, we see a interesting formation in the weekly timeframe provided from the Dow Jones Industrial Average Index. Since January 2018 the index is trading in the range between 27000 and 21700 points. It fromed and interesting formation till now with an low at 21700 points. Looks like an inverted Head and Shoulders formation, the right shoulders could possibly complete within the next weeks. If we break through this upper resistance line which you can see in my chart, it would be possible that we get a good squeeze with momentum to the upside. For completion the upper resistance line should be confirmed with an pull-back. When we break thorugh and confirm the line i will open a long position there. Possible targets would be 32000 to 33000 points. Thank you for looking at my analysis, i would appreciate when you follow my profile for more excelent market reports. Have a nice day!
DJ:DJILong
by YinYangCrypto
2
Dow Jones below the MA20. Caution. At least -1.40% underway.DJI has crossed below the MA(20) for the first time since late March. 1D has turned neutral (RSI = 50.457) calling for attention. Since the aggressive bull market took a pause in January 2018, Dow Jones crossed below the MA(20) 12 times. The dynamics of each break out vary but on average the price dropped -4.94% before the next sustainable rise. The highest decline was -14.10% (December 3, 2019) and the lowest -1.40% (May 29, 2018). Since the index has already pulled back -0.94%, it is fair to assume that more selling in underway. If it drops to the minimum -1.40% then the bottom will be made around 26,050. If it drops to the average -4.94% then expect a bottom around 25,100. ** If you like our free content follow our profile (www.tradingview.com) to get more daily ideas. ** Comments and likes are greatly appreciated.
TVC:DJIShort
by InvestingScope
1
Dow Jones (DJI) - Time to take a bowNot financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk. Wow. What a rally. Looking at different indicators and charting methods, I've found some confluence I'd like to share with you. 1. We got rejected at what would appear to be some resistance based on a pitchfork. This seems to be the new hot thing these days but in this case it's actually looking good. We got rejection at the top descending resistance line of the pitchfork which leads me to believe it's an accurate measurement of price action and control. 2. Is 71.3% fibonacci retracement a real thing? I've now seen this level get defended more times than I'd like to admit. We actually got rejection there on DJI which leads me to believe since I'm seeing this across multiple asset classes now (crypto and traditional markets) that this is a level I need to pay attention to and take seriously. 3. Assuming we go down from here, we should be targeting at least $24,000 conservatively but a revisit of the median is not out of the question which would be a decent thought for a double bottom reversal. Will this happen? Only time will tell. Nobody has a crystal ball. 4. We're trading above the 200 day moving average and found some support there on Friday, so we've got a tight zone here. 5. Last thing to note - I'm using an overlay that detects pivots and you can see (red and green arrows) that it has done a decent job for past performance. Well, it just turned bearish last Thursday. This further supports my theory of some downside in the near future. No Trade Zone: $25,000 - $25,400 Breakout above or below will be the trade. I am leaning bearish at this zone but trade the safe and probable trade, not the hopeful trade. If you weren't able to get short at $25,400 then you need to wait for a confirmed breakout in my opinion. Trade safely friends! <3 -CE-
DJ:DJIShort
by bitdoctor
SHORT Dow Jones Carves A Lower High at 24860!The Dow Jones index has made yet another high at 24860 levels before pulling back, which could be a potential top for the down trend to resume further. Please note that Dow Jones pulled back close to the down trend line passing through around 25150 levels and just ahead of fibonacci 0.786 resistance at 25100 levels respectively. This might not be a confirmed bearish reversal though but potential remains for bears to take control from here. Looking at the wave structure, after having produced an impulse wave lower Wave (1), followed by a flat corrective Wave (2), the Dow Jones might be unfolding Wave (3) lower and might have completed waves i and ii at 21800 and 24860 levels respectively. If the above structure holds, we could see much lower levels going forward. Please note that 26000 levels needs to hold for bearish structure to build on from here. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
Dow Jones - Bear Rally Completing!Not financial advise. Do your own research. The ideas shared here are the personal opinions of the BitDoctor team. Trade at your risk. I'm not going to get into any highly complicated fundamentals here other than this. Unless something happens next week that surprises investors and the world, this bear market rally is nearing completion. The stock market is heavily traded based on algorithms and we're sitting at a very important Friday close. We're sitting right at $240 which is a 50% retrace from the proposed wave 3 as drawn. If I am right, we're going to pivot early this week and maybe even on Monday and start to head down again. This will likely not be met with some hopeful retail investors trying to catch a dip. It's quite possible DIA will bounce up to $245 (or even further... nobody knows for sure). What we do know is this: We capped out at ~$270 We rejected and bounced at $241 We had a failed rally that lost steam at $263 We have completely failed and fell to $216. Surprising? Not for me. We rallied to where we are now... so what next? Just a simple fibonacci based on the proposed 1-2 gets us our bounce at the 1.618 and a rally as expected. We really shouldn't move much higher than this otherwise we'll overlap wave 1 which really changes things quite a bit. Assuming we pivot here, our target (could ptoentially be several weeks or months away) is going to be around the 2.618 from that first 1-2 pivot which lands us at the almighty $200 mark. Trade safely my friends.
AMEX:DIAShort
by bitdoctor
Dow Jones Wave (3) pointing towards 20800 levels ?The Dow Jones Industrial Average has seen one of the worst drop after 1931, around last week December 2018 and it could still produce one more bearish swing lower before pulling back. Looking at the wave structure, a higher degree wave (3) seems to be in progress since 26000 levels printed on December 03, 2018. We can count 4 wave at a lower degree since then, and the 4th wave might have terminated at 23300/50 levels, where prices seem to be stalling at this point in time. Please note that till prices remain below 24000 levels (it is the termination point of wave i of the same degree), we could see wave v unfolding towards 20800/21000 levels respectively. Overall, the bearish momentum is expected to continue at least till 21000 levels before a meaningful rally unfolds. Disclaimer: This written/visual material is comprised of personal opinions and ideas. The content should not be construed as containing any type of investment advice and/or a solicitation for any transactions. It does not imply an obligation to purchase investment services, nor does it guarantee or predict future performance. FXTM, its affiliates, agents, directors, officers or employees do not guarantee the accuracy, validity, timeliness or completeness of any information or data made available and assume no liability for any loss arising from any investment based on the same.
DJ:DJIShort
by FXTM
1
DOW approaching inevitable deathcross + h&s triggeredThis is my first ever non crypto idea on tradingview but I couldn't refrain from commenting on what I'm currently seeing on the Dow Jones. We can see a big head and shoulder pattern seems to have been triggered which has a drop target all the way down to the 21k range. Meanwhile it seems within the next 2-3 days a death cross is set to occur on the 1 day chart and considering this head and shoulder pattern seems to have already been triggered/validated I don't see any way shape or form that the DJI will be avoiding this deathcross...some wise friends of mine who have been at this much longer than I have are getting involved into some inverse ETFs right now in anticipation of it. I personally will not be making any financial advice on what to do here as I am not a financial advisor but it does appear that the writing is plainly on the wall...I also find it very interesting that the crypto market is now experiencing a bit of a pump during the DJIs + S&Ps downfall. I think we are in for a very interesting 2019 in both markets.
DJ:DJIShort
by DrDovetail