DOW JONES inside a bearish wave. Expect lower prices.Dow Jones is trading inside a Channel Up since August.
However at the moment it is still on a bearish wave.
Three out of four bearish waves of this Channel Up hit the MA50 (1d) before reversing.
With the price rejected now on the MA50 (1h), this is still a sell opportunity.
Trading Plan:
1. Sell on the current market price.
Targets:
1. 43000.
Tips:
1. The RSI (1h) is also declining. Once it turns sideways, it will be the signal to reverse to buying.
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US30
S&P500 INDEX (US500): Your Trading Plan Explained
S&P500 index is testing a recently broken daily horizontal resistance.
With a high probability, it turned into support.
To buy the market with a confirmation, pay attention to a double bottom
pattern on a 4H.
If the price breaks and closes above 5899, it will give us a strong bullish confirmation.
The market will go up at least to 5954 level then.
If the price drops lower and sets a new lower low, the setup will be invalid.
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Dow Jones H4 | Potential bearish breakoutDow Jones (US30) is falling towards a potential breakout level and could fall lower from here.
Sell entry is at 43,366.65 which is a potential breakout level.
Stop loss is at 43,570.00 which is a level that sits above an overlap resistance.
Take profit is at 42,967.23 which is a pullback support that aligns close to the 50.0% Fibonacci retracement level.
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Could price reverse from here?DJ30 is falling the support level which is a pullback support that is slightly below the 38.2 % Fibonacci retracement and could bounce from this level to our take profit.
Entry: 43,345.83
Why we like it:
There is a pullback support level that is slightly below the 38.2% Fibonacci retracement.
Stop loss: 42,770.65
Why we like it:
There is a pullback support level that aligns with the 61.8% Fibonacci retracement.
Take profit: 43,511.95
Why we like it:
There is a pullback resistance level that aligns with the 38.2% Fibonacci retracement.
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Gold 1H Intra-Day Chart 17.11.2024Gold markets are oversold so sooner or later we will see some form of short term recovery. Here is what I am looking for next;
Option 1: Gold prices dip lower keep lower towards the next target of $2,534 before prices recover.
Option 2: Gold keeps dropping towards $2,520 where price action will create some form of inverse H&S pattern.
DOW JONES Early sell signal for next week.Dow Jones / US30 is trading inside a Channel Up pattern since September.
The index is on the latest bearish wave at the moment, having been rejected at the top of the Channel Up.
The 1day RSI just crossed under the MA trendline, which on 3 out of 4 occasions in the last 4 months, was a bearish signal.
The previous 2 bearish waves of the 3 month Channel Up delivered a -3.80% correction.
Sell and target the same correction at 42850, which just so happens to be exactly at the top of the Channel's buy zone.
Previous chart:
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DOW JONES - Idea for a long position !!Hello traders!
‼️ This is my perspective on DOW JONES.
Technical analysis: Here we have the same scenario as on S&P500, we are bullish, so I expect a long position if price fills the imbalance lower and then rejects from trendline.
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US30 - Bearish Volume is still available...Technical Analysis
The price has declined by approximately 1.45% and continues to exhibit bearish momentum.
A potential retest of 43,780 appears likely before a further decline toward 43,350.
Today, US30 is expected to consolidate within the range of 43,350 to 43,775 until a breakout occurs.
A confirmed close of a 1-hour or 4-hour candle above 43,900 could signal bullish momentum, targeting 44,270.
Key Levels:
Pivot Point: 43660
Resistance Levels: 43780, 43900, 44090
Support Levels: 43350, 43200, 43070
Trend Outlook:
Bearish under 43760
Previous idea:
Bullish bounce off pullback support?US30 is falling towards the pivot and could bounce to the 1st resistance level which is an overlap resistance.
Pivot: 43,356.69
1st Support: 43,050.46
1st Resistance: 43,879.08
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
US30, Consolidation with Bearish Potential Below Key SupportTechnical Analysis
The price dropped from its ATH and reached a support level.
Today, US30 is expected to consolidate between 43900 and 43770 until a breakout occurs.
A 4H or 1H candle close below 43770 would confirm a bearish move toward 43350.
Alternatively, stabilization above 43900 could lead to a move toward 44270.
Key Levels:
Pivot Point: 43900
Resistance Levels: 44070, 44270, 44440
Support Levels: 43760, 43580, 43350
Trend Outlook:
Bearish under 43770
Bullish above 43910
Previous idea:
GOLD SHORT TO $2,540 (1H UPDATE)Look at the charting carefully & you'll see where Wave 1 & 2 ended. We entered sells at Wave 2 correction & since then the Wave 3 has dropped down in an impulse manner😍
We are only 500 PIPS away from our Wave 3 target, where we will close out 50% of our position & leave another 50% running.
GOLD SHORT TO $2,540 (1H UPDATE)Our $2,540 target on Gold has been smashed! Amazing start to the morning😍 Everyone in this channel who is holding this trade, please close out partial profits if you haven't already or even your full positions, if you're happy with your profits.
Another huge successful trade called live for you all!
US30 - Markets Getting Ready for Corrections
Market as a whole is in All Time High (ATH) zones and due for a correction soon. This can be evident from Warren Buffet selling majority of their stakes in companies and holding over $300bn in cash. Dollar is also in a very strong Bullish momentum which overweighs other pairs and commodities.
From technical analysis point of view, Impulsive Wave 5 is nearing completion and we can expect a possible reversal to below level once MA200 is also in touching distance. Please note this a medium term approach and can change depending on macro factors.
For entries, please wait for at least two candle reversals at the specified level and apply appropriate risk management.
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Disclaimer: This content is for educational purposes only and should not be considered financial advice.
DOW JONES 4H Golden Cross extending the rally.Dow Jones (DJI) gave us an excellent pre-election buy signal (October 29, see chart below) as it bottomed on the 0.5 Fibonacci retracement level and just below the 1D MA50 (red trend-line), in similar fashion as the September 11 Low, which then rallied to the 1.236 Fib extension:
As you can see, we hit our 44000 Target, which was again the 1.236 Fib ext, but a new bullish possibility emerges. The 4H RSI is about to turn bearish (below 45.00) after being overbought (above 70.00) for 7 days. Last time this happened was on August 22, the fractals are virtually identical. During that time, the price made a Higher Low and continued to peak after a +8.30% rise in total.
After another 0.5 Fib correction, the next Bullish Leg if the 3-month Channel Up was also +8.30%, indicating that there is high symmetry between the Legs of this pattern. Notice also the presence of a 4H Golden Cross both on the current as well as on the August Leg.
As a result, since we still have some distance before completing a +8.30% Bullish Leg increase, we go long again as long as the 4H MA50 (blue trend-line) holds, targeting 45000.
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DOW JONES Short term signal for fast profit.Dow Jones pulled back from Monday's high but the price action started to reverse today.
As long as the MA50 (4h) holds, we expect a quick rebound (at least) like the ones after the October 16th and September 18th pull backs.
Those rebounds gave rallies of +1.57% and 1.79% respectively.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 44450 (+1.57%).
Tips:
1. The RSI (4h) is also showing a temporary bottom similar to October 16th and September 18th.
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Notes:
Past trading plan:
GOLD SHORT TO $2,540 (1H UPDATE)Gold has peaked at its Wave 3 low, which I can tell by the slow down in bearish momentum. This was my sign to go long in the short term & buy Wave 4, giving sellers a much needed break.
I have been holding a buy since yesterday, HEDGED against my main sell position from $2,738. Looking for some form of 3 Sub-Wave correction for major Wave 4. Potential target zone around $2,625 - $2,640.
Bearish drop?US30 is breaking out of the pivot and could potentially drop to the 1st support which is slightly below the 38.2% Fibonacci retracement.
Pivot: 43,901.47
1st Support: 43,331.19
1st Resistance: 44,528.35
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.