GOLD FURTHER SELL OFF?! (UPDATE)Haven't had time to update recently as I've been extremely busy, but either way Gold has been paying us in the background!
We got that rejection from Wave 2 & a huge melt back down again towards the bottom of this 'Flat Correction' channel which I called for you all. Now waiting on Wave 3 to make its huge move down📉
US30
US30 long for this weekAll timeframes point towards US30 going long.
Monthly:
November's candlestick engulfed October's candlestick.
Price has been on a severe uptrend and does not look like it will stop.
This month we have seen a minor retracement that indicates price is collecting orders before it continues going up.
Weekly:
We have seen a three pin pattern before price started retracing which indicates that price will continue to go up.
Currently, price is retracing in order to find a major spot for liquidity where it will collect buy orders.
The high liquidity region seems to be 43,500 since that is where a lot of buy orders were filled in the past.
Daily:
Price had a target of 45,600 which was not hit. This indicates that price is retracing to a level that it will collect orders.
On the daily, the region with the most buy orders are 43,300.
4 hour:
This is the best timeframe to tell where real liquidity lies.
As we can see, the most buy orders were filled at 43,400
HENCE, THE HYPOTHESIS FOR THE WEEK, IS TO WAIT FOR PRICE TO GO TO 43,400, WHERE WE WILL LOOK TO BUY
US30 H4 | Potential Bullish Bounce ?Based on the H4 chart analysis, we can see that the price is falling to our buy entry at 43,502.40, which is a pullback support close to the 78.6% Fibo retracement.
Our take profit will be at 43,502.40, a pullback resistance.
The stop loss will be placed at 42,720.14, which is a pullback support level.
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US30 - Once A Castle, Always A Castle!Hello TradingView Family / Fellow Traders. This is Richard, also known as theSignalyst.
📈US30 has been bullish , trading within the rising channel in blue.
After rejecting the $45,000, has been in a correction phase and approaching the lower bound of the channel.
Moreover, the zone marked in green is a strong structure.
🏹 Thus, the highlighted blue circle is a strong area to look for buy setups as it is the intersection of the structure and lower trendline acting as non-horizontal support.
📚 As per my trading style:
As #US30 approaches the blue circle, I will be looking for bullish reversal setups (like a double bottom pattern, trendline break , and so on...)
📚 Always follow your trading plan regarding entry, risk management, and trade management.
Good luck!
All Strategies Are Good; If Managed Properly!
~Rich
DOW JONES: Neutral 1D means buy opportunity.Dow Jones is neutral on its 1D technical outlook (RSI = 53.536, MACD = 330.150, ADX = 20.923) as it is on the bearish wave of the 4H Channel Up, towards the 4H MA200, which on November 19th priced the last HL. The 4H RSI got oversold and rebounded today above its MA period, which twice before has been a buy signal. We are going long here, aiming at the 1.382 Fibonacci extension (TP = 45,400).
See how our prior idea has worked out:
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$USIRYY -U.S CPI (November/2024)ECONOMICS:USIRYY
(November/2024)
source: U.S. Bureau of Labor Statistics
"US Inflation Rate Rises to 2.7%, Matching Expectations "
-The annual inflation rate in the US rose to 2.7% in November,
from 2.6% in October and matching markets expectations pushed up by food cost.
On a monthly basis, the CPI increased by 0.3%, the most since April, slightly above October's 0.2%, driven mostly by higher prices of shelter.
GOLD FURTHER SELL OFF?! (UPDATE)Gold overall is still holding bearish. I originally expected a ‘Flat Correction’ on the lower bound of the range, but price is now creating that same correction, on the upper bound of the range. Market analysis is still valid & I’m still holding my sell position’s open.
Market structure would be invalidated if price broke ABOVE previous Wave 5 high.
GOLD FURTHER SELL OFF?! (UPDATE)Gold overall is still holding bearish. I originally expected a ‘Flat Correction’ on the lower bound of the range, but price is now creating that same correction, on the upper bound of the range. Market analysis is still valid & I’m still holding my sell position’s open.
Market structure would be invalidated if price broke ABOVE previous Wave 5 high.
DOW JONES 25-year Cycles show the clear picture you should know.Almost 8 months ago (April 12, see chart below), just when Dow Jones (DJI) was recovering from April's correction, we sent a clear message not to lose sight of the greater picture and to stay bullish:
The reason was the index' clear cyclical pattern since the February 2009 bottom of the U.S. Housing Crisis. The index has grown by +17% since that analysis (from 38459 to 45080) and we can't see a reason not to complete the pattern and hit our 48850 Target, which is our projection for this Cycle's Top.
On this updated chart is on the 1W time-frame, in contrast with April's which was on the 1M, we have added to key elements. The Channel Up that is dictating the pace of the Bull Cycle since the Feb 2009 bottom and the Fibonacci retracement levels, which show that after the Bull Cycle topped, the subsequent Bear Cycle corrected within the 0.236 - 0.382 Fibonacci Zone at least before the bottom was formed.
In fact, all Cycles hit the 1M MA50 (blue trend-line) upon the Bear corrections and those didn't start before the 1W MA50 (red trend-line) was broken (1M candle close below). Our 48850 Target is technically the minimum estimate as that was the % rise of the previous one (Cycle 4), which was the least aggressive compared to others (Cycle 3 = +77.19%, Cycle 2 = +75.09%, Cycle 1 = +99.62%). If Cycle 5 peaks higher, we will draw the Fibonacci retracement levels from that top and re-adjust our expected 0.382 Fibonacci bottom for the Bear Cycle (or if the 1M MA50 gets hit first).
As far as timing of the Cycle 5 Top is concerned, we expect that to be on December 2025 the earliest, again based on the Cycle with the minimum time length (Cycle 3), excluding Cycle 1 which was the most aggressive as it was the first after the U.S. Housing Crisis bottom.
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US30 Is Bullish! Buy!
Here is our detailed technical review for US30.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is approaching a key horizontal level 44,204.8.
Considering the today's price action, probabilities will be high to see a movement to 45,600.0.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
Like and subscribe and comment my ideas if you enjoy them!
Bullish bounce?DJ30 is falling towards the support level which is a pullback support that lines up with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 44,106.94
Why we like it:
There is a pullback support that aligns with the 50%^ Fibonacci retracement.
Stop loss: 43,791.93
Why we like it:
There is a pullback support that lines up with the 61.8% Fibonacci retracement.
Take profit: 44,547.96
Why we like it:
There is an overlap resistance level.
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DOW JONES cyclical trend points bottom is near.DOW JONES / US30 is trading inside a Channel Up pattern for the past 4 months.
Right now it is on a technical pullback towards the 4hour MA200, having already crossed under the 4hour MA50.
The 4hour MA200 was the level that supported the previous pullback that bottomed on November 19th.
Inside this pattern, every pullback corrected to the 0.5 Fibonacci level and was a buy opportunity while the 4hour RSI turned oversold under its 30.00 level.
Time this buy entry and target 45600, which is the 1.236 Fibonacci extension, the level that priced all prior highs inside this Channel Up.
Previous chart:
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US30: Key Levels and Bearish Outlook Below 44410Technical Analysis
The price has dropped approximately 320 pip, as mentioned in the previous analysis, and has now stabilized below 44410. This supports a bearish outlook, with the next target being 44130. A break below 44130 with a 4-hour or 1-hour candle close will confirm further downside to 43900.
To signal a bullish correction, the price needs to break above 44410 by closing a 4-hour candle above this level, potentially targeting 44590.
Key Levels:
Pivot Point: 44410
Resistance Levels: 44590, 44750, 44920
Support Levels: 44270, 43900, 43760
Trend Outlook:
Bearish below 44410, with targets at 44130 and 43900.
Bullish correction above 44410, targeting 44590.
PREVIOUS IDEA:
US30 Short Setup: Riding the Retrace to Key Support Levels!Since the elections, traditional markets have been climbing to new highs, showcasing strong bullish momentum. However, I’m now eyeing a short opportunity on the Dow Jones (US30) as it retraces to key support zones around 44,400–44,500. This area appears to be a strong support zone, and my plan is to capitalize on the retracement for a potential long setup near the 44,000 price range.
Currently, US30 is trading below the FibCloud, suggesting room for a retrace to the 44,800 level before continuing lower. My strategy here is to profit from the retracement, then re-evaluate for a long trade based on market conditions near the support levels.
Key Levels:
• Support Zone: 44,300–44,500
• Resistance Zone: 44,800
• Take Profit: 44,440
• Stop Loss: Above 45,100
Market Outlook:
With tomorrow being a U.S. bank holiday, volume may vary significantly. I’ll closely monitor price action and market reactions for further confirmation. This trade aligns with the broader market behavior while taking advantage of shorter-term retracements.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
DOW LONGDow at bottom of channel and downward trend line also coincides with 61.8 retracement from low and 88.6 from recent low....Im long from here stop just below the box as the lower box is always a possibility
Bearish drop?Dow Jones (US30) is rising towards the pivot which is a pullback resistance and could drop to the pullback support.
Pivot: 44,592.03
1st Support: 44,083.28
1st Resistance: 45,084.89
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US30 / Dropped and Still Continue Within Bearish Trend Technical Analysis
Dow Jones Already dropped and stabilized below 44755 which means still has a bearish volume to get 44410, it's possible to do a retest till 44750 and then start within a bearish trend.
To be bullish trend should break 44760 by closing the 4h candle above it, to get 44920
Key Levels:
Pivot Point: 44680
Resistance Levels: 44750, 44920, 45090
Support Levels: 44410, 44270, 43900
previous idea:
Gold 1H Intra-Day Chart 09.12.2024Gold is in a neutral zone right now, but overall I am bearish. Here is what I am looking for next;
Option 1: Gold keeps dropping in its bear trend. Our target is $2,580. You can see the zig zag move Gold is creating. We saw a break below + retest so should continue now.
Option 2: If Gold moves above $2,690 next week then we can see a mid term bull trend towards $2,740 before it drops back down again.
Dollar Index Bullish to $109! (UPDATE)The DXY is up 600 PIPS (6%) in profit, after rejecting our grey buying zone. We still have much more upside left to go in the COMING MONTHS!
There are many people who are now panicking & trying to sell the Dollar because bullish momentum has slowed down. Bare in mind, this is only a correction for buyers, not a complete reversal. Hold firm & let the market do its thing🦾