US WALL ST 30
Expanding Diagonals it is !!I have been keeping a close eye on Dow Jones ever since it was about to finish its Wave 3 which I mentioned in my previous analysis stating that the correction is incoming.
Right now, I am anticipating bounce from current region as much as 100%+ of Wave 3 making the overall market structure to be Expanding Diagonals.
I have mentioned my primary Wave and Sub-Wave count in the chart.
Hoping for the best :)
1 last leg up today then its overI have been waiting for the short entry for quiet sometime on US30. I was expecting it to fall down yesterday after completing the wave structure, but it was not able to hit the minimum upward target of Expanding Diagonals we are seeing in our last wave.
I am expecting US30 to move upward 1 last time from here followed by the downward correction which can last whole of August.
US 30 LONG Risk 0.5%
TP1 = 1:2 RR
Disclaimer:
The contents in this Idea are intended for information purpose only and do not constitute investment recommendation or advice. Nor are they used to promote any specific products or services. They serve as an integral part of a case study to demonstrate fundamental concepts in risk management under given market scenarios. A full version of the disclaimer is available in our profile description.
Dow Jones -> Fighting The Little Brother NasdaqHello Traders and Investors ,
my name is Philip and today I will provide a free and educational multi-timeframe technical analysis of DowJones 💪
With the recent retest of a previous monthly resistance level, now turned support, and in confluence with a retest of the 0.382 fibonacci level the Dow Jones started a new bullrun which will certainly continue going into 2024.
On the weekly timeframe the Dow Jones just broke above a major previous weekly bearish trendline and since then created a solid +5% rally and with the recent bullish momentum I simply do expect the creation of a new all time high soon.
I have also been bullish on the daily timeframe on the Dow Jones for quite some time and so far everything payed off nicely - I am still waiting for a drop though to then scale into more buys on the Dow Jones to perfectly ride the next bullish wave.
Keep in mind: Don't get caught up in short term moves and always look at the long term picture; building wealth is a marathon and not a quick sprint 📈
Thank you for watching and I will see you tomorrow!
My previous analysis of this asset:
US30 ShortThe analysis aims to highlight the potential downside risks and factors that could contribute to a decline in the market during this period.
Market Overvaluation:
One of the primary concerns supporting the bearish stance is the perceived overvaluation of the Dow Jones Industrial Average. Throughout the past few quarters, the market has witnessed an extended rally, leading to inflated asset prices. This has created a situation where the market might be due for a correction or even a more significant reversal.
Economic Uncertainty:
The global economic landscape may contribute to downward pressure on the Dow Jones Industrial Average during the specified range. Factors such as geopolitical tensions, trade disputes, and geopolitical events could create uncertainty in the markets, prompting investors to adopt a risk-off approach and exit long positions.
Inflationary Pressures:
Persistently rising inflation can exert negative pressure on the stock market. A surge in inflation can lead to concerns about potential interest rate hikes by central banks, which might dampen investor sentiment and drive market participants towards safer assets.
Technical Indicators:
Analyzing technical indicators can further support the bearish outlook. For example, if we observe declining volume alongside declining prices, it may signal a lack of conviction from buyers and potential weakness in the market.
Sector-Specific Weakness:
Within the Dow Jones Industrial Average, certain sectors might exhibit weakness, leading to a drag on the overall index. Disruptions in supply chains, weakening consumer spending, or regulatory challenges can weigh on specific sectors, influencing the overall market sentiment.
Profit-Taking and Rotation:
Given the prolonged bull market, investors may decide to lock in profits from their existing positions, causing sell-offs and leading to a potential rotation of funds into other assets. This rotation could result in reduced demand for equities, including those within the Dow Jones Industrial Average.
Conclusion:
Based on the bearish analysis, a short signal for the Dow Jones Industrial Average within the specified range of 35,420 to 35,455 could be justified. However, it's crucial to remember that financial markets are inherently unpredictable, and trading decisions should be made with careful consideration of risk management strategies. Traders and investors should always conduct thorough research and be vigilant about any potential changes in market conditions.
Dow Jones Index (US30): Sideways Movement & Forecast
Dow Jones Index is currently trading within a horizontal intraday range.
Its upper boundary was reached on Friday.
Testing that, the market formed a descending triangle formation.
The neckline of the pattern was broken.
I think that the consolidation will continue on the Index
and it will reach 34300 level soon.
❤️Please, support my work with like, thank you!❤️
NAS100 and US30 Top-down analysis Hello traders, this is a complete multiple timeframe analysis of this pair. We see could find significant trading opportunities as per analysis upon price action confirmation we may take this trade. Smash the like button if you find value in this analysis and drop a comment if you have any questions or let me know which pair to cover in my next analysis.
US30USD Targets 78.6% Fibonacci ResistanceThe US30USD is currently experiencing a notable pullback, presenting an intriguing opportunity for a favorable risk-reward buying position. The breach of the downtrend trendline is a significant development that may indicate a potential reversal in the short or even long-term trend.
Our analysis suggests that we could witness a swift ascent toward the 78.6% Fibonacci resistance level.
Global DOW, SPY, NAS Support CorrelationThe 24 hour US stock indices have a solid correlation and showing you where buy support is.
The top chart is the US30USD.
The middle is the SPX500USD.
The bottom is the NAS100USD.
Since these charts trade 24 hours a day 5 days a week there never is a gap to deal with messing your oscillators.
There is a term I like to use called "No Man's Land". It includes all areas of a Moving Average Oscillator that don't connect to some form of support trend line or resistance trend line.
Don't trade in those areas. Look for support and resistance and set alerts so you can trade at those key points. We are hunters not killers. Hunters still fail, but hunting at key points allows you to set tight stop loss and move on to the next hunt. If you get stuck in "No Man's Land" then you have to decide to wait and hope support or resistance gets tested and works in your favor. That is not fun to feel and makes you emotional. Things can always reverse due to unexpected fundamentals. If that happens, be patient and start hunting the possible next support trend line or resistance trend line. And slowing down your lookbacks is vital to learning the bigger picture of things. Just because the preset value for RSI is 14 lookback. Doesn't mean you can't use other numbers. Fib numbers open up doors you've never seen. Good luck hunting