Buy My DowDirectional Bias: Long
Price Target: 25300+
Good Entry: 24500-24600
Risk/Reward: Max Risk of 125 Points, Potential Reward of 700-800 points
YM1
YM Tuesday - Still looking for ShortsAfter an extended 1 to 1 completion (yesterday's short) we reached strong areas of support (blue lines - my weekly analysis) where the buyers need to show up. Since the last high that price made is not being taken out, I am still looking for shorts. Price is correcting right now. Unsure about the correction this time, but I am expecting it to happen between the 50 and 61.8 Fib Correction, also in line with price structure. Just look at structure to the left where the sellers have their territory to come in.
Check my higher time frame analysis as well.
*DISCLAIMER: Futures , stocks and options trading involves substantial risk of loss and is not suitable for every investor.
None of the content published on this account constitutes a recommendation for investing your money. Trading is at your own risk.
YM Weekly (Technical) Analysis YM still bearish - The buyers came in good at ~25200. The sellers still dominated though and traded below those levels. Expecting price to create new structure lows and retesting support levels at ~24200 and ~23980 - (blue lines). Nice harmonics in play, also in the immediate order flow.
Check my analysis for the more immediate order flow.
**DISCLAIMER: Futures , stocks and options trading involves substantial risk of loss and is not suitable for every investor.
None of the content published on this account constitutes a recommendation for investing your money. Trading is at your own risk.
Dow Jones - Key levels to watchInvestors are showing much nervousness ahead of the US Mid-Term Elections. Sources report the Democrats are so vindictive that they intend to reverse everything and anything that Trump has done, independently from the costs to the economy.
Downside remains intact despite the short-term consolidation we're seeing. Only a close above Thursday's high/25040 will release some pressure.
We may push lower into the week of Nov 5th, and the next key supports are 24400, 24000, 23100/200.
Dow Jones - Negative Bias still in Play US elections are keeping investors nervous. The Dow remains a sell on rallies for now,
but volatility will continue to be intense.
Dow Jones - More Down Side Ahead11 Oct could be a day to remember(refer to post "Dow Jones Fibonacci Time"), Dow fall almost 1000 points in a single day and still dropping. In 4 trading days, Dow have dropped 6.52% at the time of this post from historical high.
The current price structure in daily chart are not favorable to stocks investors, first 3 Oct all time high was not sustainable and price quickly retraced. Market seems like forming a "double top" like formation, but not symmetrically align with classic double top. With this formation, crucial support could be seen on neckline or previous low 23088.
On the right char (2 hours chart), the current price is trading below 9 multiples golden ratio 25446 and heading to 10 multiples 24507 770 points of room from now. If price continue to swing lower, next projection target at 22987 , which align with the daily "double top neckline".
The above analysis will be violate if price form higher high structure.
UPD: $DJIA Possible C&H, PO at 22,900Has to break below current fresh minor demand zone first $YM_F, $DIA
Dow Jones - Volatile Action Requires CautionWith nervous investors ahead of the US elections, the recovery hasn't been as swift or clean as expected.
Caution is warranted.
Dow Jones - Short-Term Trend turns UpBuyers returned in the major equity indices yesterday and we expect higher prices still.
Dow Jones - Short-Term Range conditions continueDow is currently neutral in it's short-term range. It can really go both ways from here, so the break is the key to the next move.
Dow, FKLI & Hang Seng - The 50% RetracementThe sharp declined in indexes market have not make significant come back yet since 11 Oct.
The 3 charts plotted in 60 minitues time frame. From the left
- Dow declined 7.6% from the peak, and rebound to 50% ratracement ( 25510) and trade below.
- FKLI declined 6.7% from the peak, and rebound to slightly higher than 50% ratracement (1738) and retraced.
- Hang Seng declined 10.5% from the recent peak, among the worst performing market, and rebound to 50% ratracement (25775) and trade below.
The current price structure in correction stage with no indication of bullish yet.
Dow - Short-Term Range is KeyShort-term range barriers help in gauging the next move. Wait for a break before acting.
Keep a tight watch on trades these days...headline risk is increasing.
YM - Sell-off Overdone?The Dow bounced a very clear support zone yesterday and we have bounced all the way towards yesterday's highs.
This is a sign of strength and perhaps it's time to start looking to get long on dips - cautiously of course.
Dow - Heading 27000Yesterday correction end at 50% retracement level, and the rebound hit new high eventually. And this time, price trading able to sustain and trading above Dow continue its rally with higher high. the next projection target at 27000 (see confluence zone)
Dow - Heading 27000Yesterday correction end at 50% retracement level, and the rebound hit new high eventually. And this time, price trading able to sustain and trading above Dow continue its rally with higher high. the next projection target at 27000 (see confluence zone)
Dow - Room for DownsideDow once again found resistant at Jan 2018 high 26684. Price retest this price level and quickly pull back and closed below. This doesn't reverse the bullish trend of Dow, and only suggesting price in correction after hitting historical new high.
For short term price projection, please refer to the right chart, below 26617 will see price approaching 26532 and 26395 the next. The second target suggested by fibonacci spirals will see price approach previous low also 50% retracement level of the impulsive swing.
The short term selling may come to end if price trading and sustain above 26617. Thus, trader please monitor this price level for direction indication.
Dow Jones ElliottWave Analysis: Inflection Area Called The RallyHello Traders,
Dow Jones Elliott wave view suggests that the cycle from 08/15/18 (24946) low ended at the peak of 08/29/18 (26186) in red wave 3.
Below from there, it ended the pullback in red wave 4 at 09/11/18 low (25767) and already broke to new highs confirming that the next extension higher has started.
The internals of the red wave 4 pullback unfolded as an Elliott Wave double correction which ended black wave ((w)) at 09/11/18 low (25817), black wave ((x)) pullback at 09/11/18 (26102) and finally black wave ((y)) of red wave 4 at 09/11/18 low (25767).
After breaking red wave 3 peak confirming that the next extension higher has started, it ended the short-term cycle from 09/11/18 low (25767) at the peak of 09/14/18 (26262) in black wave ((i)). Below from there it reached our equal legs extreme (blue box) towards $26061-25963 area, which was the 100%-161.8% Fibonacci extension area of blue wave (a)-(b) where it ended black wave ((ii)) pullback and also where we like to stay long with a risk free position targeting higher targets.
As long as pullbacks stay above 25767 low we expect the index to see more upside. We don’t like the selling.
Dow - Back to CorrectionLatest development between China and US have temporary brought down YM1!, the current price had seen double top at 26200. Dow is expect to trade between 25800 to 26200 range.
Current price structure remain correction while trend remain bullish. Correction support resistance as follow:
Resistance: 26082 & 26053
Support: 25986 & 25831
Dow - Room for Upside The giant has awake last night with breakup two weeks range from confluence zone A with two fibonacci spirals overlapping 26050. The higher high setup will likely to bring YM1! to first target 26431 in the short term. Dow is not far from making historical new high, and that will see market approaching second target, trader please be cautious when price approaching historical high 26684.
E-mini Dow Sep Futures will be expired on 21 September. Open interest in December seen increasing. Sep/Dec spread around 25 points.
Dow in correction, hovering above 25828Dow Jones Futures trading in correction zone, if price below 25828 (61.8% of previous impulsive swing), market will reverse to deeper correction or potential trend change.
Why an early fail can actually HELP a breakoutThis is a great example for traders of all timeframes to study. I don't really have time for people basing trades on wide zones - that's fine for analysis, but for a TRADE, you've got to see the fight at a specific level. When you draw these correctly, you can get a really great picture of evolving sentiment and balance of power shifts.
Most traders treat breakouts way too lazily. You don't just enter at a new High/Low. You NEED buildup.
Any naked attack from distance is likely to fail. But what if it only pauses, instead of crashing?
Do you redraw the level? Do you avoid the trade completely?
What works for me:
Talk out the developing scenario. A fail failed? Ooh, interesting. Maybe there's more power on the original side than expected.
Once the breakout's happened, how is the other side thinking? I was biased long, getting everything I wanted to see....but what would the Bears want to see? Probably a close back under the grey/yellow boxes, right?
But wait, now that we created another temporary level during the failed probe, there's another level price needs to break through before even attempting the yellow level and then grey boxes!
--> this makes for a likely bounce point, and creates several chances for late entries. Best of all, it means a breakout entry at the original level will be protected by that bounce and your trade stays green.
Dow Futures Elliott Wave View: Pullback Should Find SupportHello Traders,
Short-term Elliott Wave view on YM_F (Dow Futures ) suggests that the pullback to 24956 low ended red wave 4. Up from there, Index is rallying within red wave 5 to end a 5 waves up from 4/2/2018 low. Black wave ((i)) of 5 is currently in progress with internal subdivision as an impulse structure, This suggests lesser degree cycles in the direction of trend should unfold in 5 waves structure, i.e blue wave (i), ( iii) & (v). On the other hand, the sub-division of lesser degree cycles against the trend should unfold in 3 waves corrective sequence, i.e. blue wave (ii) & (iv).
Up from 24956, blue wave (i) ended at 25326, blue wave (ii) ended at 25243, blue wave (iii) ended at 25657, blue wave (iv) ended at 25506, and blue wave (v) remains in progress but it is in the area where it can end soon. Consequently, the move higher should complete black wave ((i)). The Index should then pullback in black wave ((ii)) to correct cycle from 8/15/2018 low before the rally resumes. We don’t like selling the proposed pullback and expect dips to find support in 3, 7, or 11 swing as far as pivot at 24956 low stays intact.
