YM1!, Buy on H4.YM1!, Buy on H4.
H4:
- Structure: Uptrend
- Tendency: Upward
- Break and above support
- Re-test support and move up
- Candle: Bullish candle
=> UP
YM1
$DIA $DJI $DJIA $DJ_F - Dow Testing Key Monthly ResistanceAs market volatility has died down in recent sessions, off the back of calming geopolitical tensions in Hong Kong, as well as between US-China, it appears that the $DJI has broken out of its "Channel" formation and is moving higher.
Given this move, the $DJI is trying to make a run for 26,876 - a Key Monthly Resistance Level (Blue) for the index.
One thing to lend support to the $DJI move higher has been the fact that its RSI is showing positive divergence with current price action.
If the $DJI can successfully "Breach and Close" above 26,876, it would be a good sign for the market.
Investors should watch this space.
DJI bearsh viewBased on the chart, it is supposed the index will fall from the current levels. Aggressive traders should take positions early.
Dow Jones - Trade the Data into NY! Eyes on Dow and risk appetite today into the NY session. It's going to be an important two days for U.S. stock investors. A slew of economic data from payrolls to services PMI figures to durable goods orders have taken on even more significance, after the unexpectedly poor reading from the ISM purchasing manager's index this week.
With many investors pointing to a strong labor market as a reason for their preference for U.S. assets, traders will be particularly sensitive to the ADP employment data today and of course non-farm payrolls Friday.
The ISM's gauge of factory employment fell to the lowest since March 2016, which suggests there could be pressure on manufacturing payrolls.
Data-driven moves are the key today.
Dow Jones: Golden Cross on 4H. Strong buy opportunity.The index is coming off a 1D Resistance (26,400) break out last week that practically broke the August consolidation range. The upside stopped on the median of the 1W Channel Up (RSI = 52.840, MACD = 209.700, Highs/Lows = 0.0000) just above the 4H MA200.
The candle action is very similar to the previous High-Low pattern, where after a the Death Cross confirmed the downtrend to a Higher Low, the Golden Cross confirmed the uptrend to the Higher High. The Golden Cross is about to take place on 4H and that should be your buy signal towards a new Higher High. We are willing to take that buy aiming at a Higher High price of 27,850.
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DJI future for short term There are two bearish count for DJI. The first count I suggest that wave b completed and we in wave 2 of wave c. The count will be invalid if price moves up to 26378. the other count shows that we are in the wave b which unfold as triangle. trade wisely and don't forget to manage ur trade.
Dow Jones - Sell Continuation Breaks!Equity markets are lower today, on the back of
lingering trade uncertainty and also HK protests.
Embattled Hong Kong leader Lam said the Asian
financial center is at risk of sliding into an
“abyss". This is influential since it is de-facto a
Chinese matter, which won't help the already
tense international situation with the US.
We continue to expect downside in equities
today. Sell continuation breaks.
Day trading YM 2 Aug with volume profile + VWAPExplanation on the chart.
I use this along with ADD/TICK/UVOL-DVOL for internals to ensure i'm not going against the grain.
Other important reference points are previous days and weeks range.
Volume profile analysis for DJI/YMValue has moved down with price which is bearish, but it has left some poor structure with several distributions above. Price touched the previous balance area- marked in yellow-before being rejected so a bounce here is likely. There are several virgin volume POCs below to hunt down with targets being 25615, 25250, and 24770.
Dow Jones - Continuation Breakout Setting Up!The Dow fell more than 1% on the FOMC decision
as further rate cuts are not guaranteed. Actually
the way traders interpreted this is that the cut
was an "insurance cut", with no more to come.
Equity markets are feeling the force of gravity from
the yield curve movements.
We like the odds of further softness today,
but would only play continuation breakouts
when Wall Street opens.
#FXinsights USDHKD Daily #TradingViewTOOLKIT YM1! FUTURESinFocus#proTRADING with #TradingViewTOOLKIT @YouTube
CBOT_MINI:YM1! MarketWATCH
SHORT
Dow Jones - Continuation Longs in Play!Stocks are higher on a combination of factors:
positive results from Microsoft;
news that Mnuchin and Lighthizer spoke again
with Chinese officials yesterday;
FED's Williams hinting at a stronger easing bias.
We like the odds of continuation today, looking
for new all-time highs in the Dow.
Dow Jones - Buy on Pullbacks!Stocks received a boost from the more positive headlines
relating to Huawei (which was on the US Black list).
This led to a big push in the equities markets,
which is continuing still.
The trend is up and pullbacks are favoured after the dovish FOMC.
YM E-mini Dow Jones - pushing to new highs?Daily YM E-mini Dow Jones chart showing possible BULLISH TREND pushing to new highs - currently up against RESISTANCE
Dow Jones - Continuation Breakout Setup ahead of FOMCStocks received a boost from the more positive wave of
headlines relating to a US-China trade deal. This led to a big
push in the equities markets, before things settled down.
Ranges are likely to hold before tonight's FOMC decision.
The trend is up and continuation breaks are favoured
if we get the dovish FOMC that everyone expects.
Trade AFTER the event - not before.
Elliott Wave View: Dow Jones Futures Correction to Find BuyersElliott wave view in Dow Jones Futures (YM_F) suggests that the decline to 24604 ended wave ((W)) on June 3. This decline ended the cycle from May 1 high as a 3 waves zigzag Elliott Wave structure. Wave ((X)) bounce is currently in progress to correct the cycle from May 1 high in 3, 7, or 11 swing. The internal of wave ((X)) rally is unfolding as a zigzag Elliott Wave structure. A zigzag is an ABC with 5-3-5 structure. Wave (A) of ((X)) is now in progress as a 5 waves impulse.
Up from 24604, wave 1 ended at 24938 and wave 2 pullback ended at 24684. Rally then resumes in wave 3 to 26085, wave 4 ended at 25974, and wave 5 ended at 26289. The 5 waves move higher ended wave (A) of higher degree. Short term, Index is in wave B pullback to correct cycle from June 3 low (24604) in 3, 7, or 11 swing before turning higher again in wave (C). We don’t like selling the Index. As the rally from June 3 low is impulsive, expect wave (B) pullback to hold above 24604 for at least 1 more push higher in wave (C).
Dow Jones - Risk-Off Returning, Shorts Favoured!Risk appetite is once again sour after Trump tweeted
and a Washington Post interview fuelled concerns over
political pressure on the Fed and trade woes anew.
The US President first tweeted that the US is put at a
‘big disadvantage’ as US rates are kept too high while
others are devaluing their currencies, explicitly
mentioning the EUR and CNY.
Separately, Trump said that he is currently ‘holding up’
the deal between the US and China on trade, accusing
China of reneging on previously agreed terms.
We believe there is more pain in store for equities today,
and would sell the Dow here near resistance.
POC to VAH on DJIThis chart shows the balance zone and bell curve that has been created in the volume profile since Jan 18. This week price fell to the 18 month Point of Control and was immediately bought up to the Value Area high, forming a bullish engulfing candle as it did so.
In terms of trading from here, any buying above this level is now buying out of value. Shorting at this level or higher is good value if looking for a responsive move lower, but not without an entry signal. Remember this is a longer term chart and the daily profiles are showing value moving higher every day last week.
The profile also has a positive skew, in that there is much more action above the POC than below. This is people buying at higher prices as they believe that in the longer term they are buying value- bullish overall.
Dow Jones might be finding support along green trend lineThe Green trend line has acted as a good support since the mid point of last year. This may be a bottom of a upward channel forming.
Elliott Wave View: Dow Jones Future YM_F Rally Should FailShort term Elliott Wave view on Dow Jones Future (YM_F) calls for the bounce to 25952 as wave (B). This move higher is a correction to the decline from April 24, 2019 peak.
In order to avoid a double correction in wave (B) and provide validity to this view, Dow Jones Future needs to break below wave ((i)) at 25215. However, technical analysis on US Sectors such as Financial (XLF), Technology (XLK), Consumer Discretionary (XLY) suggest they have broken lower. Thus, we think it’s likely that Dow Jones Futures also extends lower.
Therefore, we don’t like buying the Index and expect sellers to appear in 3, 7, or 11 swing as far as pivot at 25952 peak stays intact.
VWAP, Volume profile and pivots combined for day tradingAs annotated on the chart, weekly pivots combined with volume profile and VWAP bands can give high % entries.
me
On responsive days, VWAP bands give accurate points of entry for a move back to the current VWAP or POC.
Be wise to the the of day that is developing, and use the appropriate strategy. For example on trend days do not play for responsive moves as you'll get run over. Neutral/balancing/normal days buy or sell out of value for a return to value using VWAP and pivots as a guide. Stops should be placed above or below pivots or the next VWAP band (2.5 or 3 SD).
For further accuracy use the bigger picture- market and volume profile of the last few days.
