DOW JONES (US30) Trend Following Setup Explained
Dow Jones Index is currently retesting a recently broken horizontal resistance.
Because the trend in strongly bullish, a buying wave may initiate from the underlined
blue area.
Our confirmation will be a bullish breakout - 4H candle close above a resistance line of a bullish flag pattern.
A bullish continuation will be anticipated to 39080 / 39200 levels then.
If the price drops and sets a new lower low, the setup will become invalid.
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Us30trading
Dow Jones (US30): One More Bullish Move?!
Looks like we may see one more bullish movement on Dow.
After a test of a key support, the price formed a cup & handle formation.
The neckline of the pattern is broken and we see a positive bullish reaction
after its retest.
I expect a bullish movement to 38040
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DOW JONES: Harmonic pattern calling for a buy. TP = 34,350.Dow Jones is on a minor 3 day pullback after a strong rebound that closed over the 1D MA50. The 1D technicals are neutral (RSI = 48.264, MACD = 86.760, ADX = 23.509) and being on a Harmonic rise since March 20th Low, the 1D MA50 rebound is most likely the bullish wave to test yet again the R1 Zone. Unless S1 breaks, we are targeting the bottom of R1 (TP = 34,350).
Prior idea:
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US30 possible sell zone!US30 4H has primarily rejected monthly resistance with a long wick candle creating a lower high with a monthly resistance level. As the long-term price action is bearish, it is a high probability that upon rejection from the long-term resistance US30 will drop to the nearest support level. Upon rejection and price action confirmation, we may have a selling opportunity!
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US30 Entries + ExitsThe 1on1 video is currently out, if you would like it in order to understand how to play my analysis FULLY, please let me know privately.
All likes/comments and feedback are very much appreciated!
How to play my chart:
Buy at support, sell at resistance. When you open this chart you'll see a green entry and a red entry. When the candlestick hits the green entry, you place a buy. If however that support buy doesn't go into profit and goes negative -35 or -60 pips (depending if it was a fast break/or if the break landed on a minute 15 zone), if it breaks you would then exit your buy and immediately enter the sell. You would then ride that sell down to green TP1, or you could then repeat and play the buy/break there.
The same exact thing goes for resistance sell/break plays!
US30 ShortHey traders, in the coming week we are monitoring US30 a selling opportunity around 35860 area. Once we will receive any bearish confirmation the trade will be executed.
Above is an overview on US30 and the most important levels to watch.
Trade safe and use proper risk management, especially with the indices because their movements are more violent comparing to other forex pairs.
Your favorite trader, Joe.