DOW JONES confirmed buy signal supported by the MA50 (1d)Dow Jones is having a confirmed bullish breakout singal as it crossed over the short term Channel Up while holding the MA50 (1d).
This is a channel inside the longer term pattern of a Channel Up since the March Triple Bottom.
Trading Plan:
1. Buy on the market price.
2. Buy if the price crosses above Resistance (1).
3. Sell if the price crosses below Support (1).
Targets:
1. 34350 (under Resistance 1).
2. 34900 (under Resistance 2).
3. 31750 (Support 2).
Tips:
1. The RSI (1d) is at a level symmetric to January 11th when again the price crossed above a short term Channel Up after rebounding on the MA50 (1d). It reached 34350 shortly after.
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Notes:
Past trading plan:
YM1
DOW JONES: Testing the 1D MA50. Rally if it holds.Dow Jones hit TP1 = 33,650 and is now going for our TP2 = 33,900 as per the trading plan we made last week (chart at the bottom). The 1D time frame finally turned (slightly) bullish (RSI = 51.712, MACD = -40.000, ADX = 28.963) for the first time since May 1st but today's pull back is testing the 1D MA50. If it holds, we expect to reach the 33,900 target that is under the top of the large Channel Down structure.
With the MACD having formed a Bullish Cross, there are high chances of this turning into a medium term rally into a new Channel Up. If R1 breaks (34,275) we will buy the breakout and aim at the top of this potential Channel Up (TP = 35,200).
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YM1! US30USD DOW 2023 June 05 WeekYM1! US30USD DOW 2023 June 05 Week
Welcome myself back from holiday!
Some selling into higher prices, so will watch reaction to 24605-34275
area.
Possible scenario:
1) Short if 34605-34275 is rejected again
2) Higher low toward previous resistance, for long on retracement.
Retracement down bars need to be on lower volume for this to happen.
Price Reaction Levels:
Short on Test and Reject | Long on Test and Accept
35750 34605-34275
32695 31657
Price Volume Analysis:
Weekly: Lower vol wide spread up bar = possible weakness
Daily: Higher vol wide spread up bar = possible weakness
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Have a profitable trading week.
*For education purpose only.
DOW JONES on a confirmed Bullish break-out.Dow Jones (DJI) has broken above the short-term Channel Down today, fulfilling the conditions for a buy break-out as presented on our previous analysis (see idea below) and is now even above the 1D MA50 (blue trend-line):
To add more to the bullish sentiment, it even broke above the Diverging Lower Highs and has no real Resistance until 34270, which is our short-term Target. The current rebounded was achieved after the 1D MA200 (orange trend-line) held as Support on three separate tests.
The hidden Buy Signal however was derived by the 1D MACD, which completed today a Bullish Cross, the first since March 21 that was the previous market bottom and the start of the current long-term Channel Up
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DOW JONES: On an important make or break 1D MA200 testDow Jones is trading inside a Channel Down on currently red 1D technicals (RSI = 42.150, MACD = -137.170, ADX = 39.695). For the past week though it has been mostly sideways between the 1D MA50 and 1D MA200. Today the 1D MA200 held but that alone is not a buy signal.
If it crosses and closes over the 1D MA50, we will target first the R1 (TP1 = 33,650) and then the top of the long term Channel Down (TP2 = 33,900). If the price closes under the 1D MA200, sell and target the bottom of the Channel Down (TP = 32,000).
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DOW JONES Neutral. Waiting for break out levels to trade.Dow Jones is trading inside a Channel Down with the price currently contained within the MA50 and MA200 (1d).
A similar pattern in late December 2022 broke to the upside but be prepared to trade either direction based on the break-out that will prevail.
Trading Plan:
1. Buy if the price closes over the MA50 (1d).
2. Sell if it closes under Support (1).
Targets:
1. 34350 (under Resistance 1).
2. 31750 (Support 2).
Tips:
1. The RSI (1d) strengthens the view that the current price action is similar to December's. If it breaks over the MA trend line and rebounds on it (like January 5th 2023), it could be an additional buy confirmation signal.
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Notes:
Past trading plan:
DOW JONES Emerging Bullish Cross may take it higher.Dow Jones (DJI) has broken above the former long-term Channel Down, hitting our previous upside target (see idea below) and is now forming a new pattern:
The new pattern is a Channel Up, which has been on a correction leg (blue channel down) since the 34270 High, similar to the one from December 01 to January 05. The 1D MA50 (blue trend-line) is supporting a loose Triangle pattern (dashed trend-lines), which above it targets Resistance 1. Our target is slightly lower at 34250.
The critical factor is on the 1D MACD, which is close to forming a Bullish Cross. Every MACD Bullish Cross under 0 in 2023 has been a major Buy Signal, and interestingly enough both have been formed while the price was consolidating within a Triangle.
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DOW JONES Short term rise very likelyDow Jones is finding support on the 1day MA50, forming a Triangle pattern.
The same pattern during the late December 2022 consolidation, broke upwards and reached the previous High.
Up to this point, even the 1day RSI structures since the Falling Supports are very much alike.
As long as Support A holds, buy and target 34200.
If it crosses under the 1day MA200, sell and target 31700.
Previous chart:
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DOW JONES Break down analysis 22/05/2023 dear traders dow jones has moved from weekly chart to the opposite way so as you can see in the chart you should look for buy and sell from the key level wait always for price action and good luck
DOW JONES Big Buy signal if it holds the 1D MA50Dow Jones (DJIA) has gone a long way since the efficient buy signal we gave exactly 2 months ago:
The index is right now testing the 1D MA50 (blue trend-line), which has closed 3 straight 1D candles above it and 4 since May 04. Since it broke below the Channel Up, going to the 1D MA200 (orange trend-line) and 32800 is possible but not as long as it keeps closing above the 1D MA50, which has been established as the short-term Support. Instead, as long as it does, we are bullish and targeting 34250.
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YM1! US30USD DOW 2023 15 May WeekCBOT_MINI:YM1!
Last week's test and reject 33670 short yielded 270pts.
Market approaching intermediate axis 32994.
Possible scenario:
1) 32994 is supported and market returns into 33850-32994 range
2) 32994 becomes resisted and market head toward 31657/30513
Price Reaction Levels:
Short on Test and Reject | Long on Test and Accept
33632
34275-34605 33850
32994-33195
31657
Price Volume Analysis:
Daily & Weekly: Possible No Supply down bar close off low = strength
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Have a profitable trading week.
*For education purpose only.
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).
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YM1! US30USD DOW 2023 MAY 08 WEEKCBOT_MINI:YM1!
Test and reject of 34275 for first week of May:
Entry: 34105 | Risk 100pts (reduced size) | Exit 33674 | Profit 430pts
Now that YM has exited rotation, and tested boundary, we may see the
likelihood of a rejection trade from 33670. Set your alarm there.
Possible scenarios:
1) Test and reject of 33670 = short
Volume Analysis:
Daily: High volume breakdown from rotation, followed by lower
vol up bar close off high = confirmation of supply overcoming demand
H4: Lower vol up bar close off high = weakness
Price reaction levels
Short on Test and Reject | Long on Test and Accept
35228 34605 34275
33670 32681 31657
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Have a profitable week ahead.
DOW JONES Trade the breakoutDow Jones is rising after the sharp fall earlier today on a pattern that might be an emerging Channel Up.
The 1hour RSI got massively oversold at 13.50.
Buy if the price breaks over the Falling Resistance and target 34250.
Sell if the price breaks under Support A and target 33235 (Support B).
Previous chart:
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DOW JONES Small pull-back possible but bullish long-termOne and a half month ago we gave the most optimal buy entry for Dow Jones (DJI) exactly at the bottom of its 4-month Channel Down:
Right now the index is trading inside a shorter term Channel Up that is technically aiming at the 34900 Resistance, which is the December 13 2022 High, as part of its Higher Highs process. If however the 4H MACD currently completes a Bearish Cross, it is more likely to see one last pull-back below the 4H MA50 (blue trend-line) and near the 0.618 Fibonacci retracement level (33600) before the next rally.
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DOW JONES Potential Head & Shoulders and invalidation level.Almost a month ago we gave the most optimal buy entry for Dow Jones (DJI) exactly at the bottom of its 4-month Channel Down:
Right now, we see an emerging Head and Shoulders (H&S) pattern, which is a technical pattern typically formed on market tops. The key now is the 4H MA100 (green trend-line). A closing below it, will most likely accelerate the pull-back towards Support 1, in which case we will target 33330.
A 4H candle close above 4H MA50 (blue trend-line) will be a bullish break-out signal and should invalidate the H&S pattern, targeting first Resistance 1 and Resistance 2 in extension, in which case our Target will be 34500.
Note the the 4H RSI has been inside a Channel Down since April 04, thus a big Bearish Divergence when compared to the price's Channel Up.
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YM1! US30USD DOW 2023 APR 24 WEEKYM1! US30USD DOW 2023 APR 24 WEEK
Discretionary trade at the 34275 rejection yielded 350pts.
With price failing to reach previous supply level 34605,
could market be indicating that demand at higher levels
have been exhausted?
If so, we may be looking at further distribution (i.e. selling)
Possible scenarios:
1) With weakness observed, wait to short at rejection at 34605 // 34275
2) Possibility of rotation between 33670 - 34275 = trade at boundary
of range
Volume Analysis:
Daily: Possibility of buying climax.
Price reaction levels
Short on Test and Reject | Long on Test and Accept
35228 34605 34275
33670 32681 31657
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Have a profitable week ahead. CBOT_MINI:YM1!
DOW JONES: Two Channel Up patterns in progress.Dow Jones is mostly neutral on the 4H timeframe due to the slow price action of the past 10 days but remains bullish long term on the 1D timeframe (RSI = 64.809, MACD = 269.290, ADX = 67.751) as the Channel Up is intact following the Golden Cross.
In fact, if the 4H MA50 continues to support (has been doing so for almost 1 month since March 24th), we see the potential for a new Channel Up to emerge as shown by the dashed lines. This can take the price straight to R3 (TP = 35,800). If the 4H MA50 fails to hold, we will sell short term to the 1D MA50/4H MA200 range (TP = 33,200) and then buy for a less aggressive target on R1 and the top of the March Channel Up (TP = 34,600).
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YM1! US30USD DOW 2023 APR 17 WEEKCBOT_MINI:YM1!
YM1! US30USD DOW 2023 APR 17 WEEK
Previous long scenario2 at 32595 // 33590 worked well.
Potential weakness observed.
Market now is approx. 500pts away from 34605.
Possible scenarios:
1) Trade to be guided by channel
2) With weakness observed, wait to short at channel's
supply line or rejection at 35228 // or 34605 previous
rejection area
Volume Analysis:
Weekly: higher volume up bar close off high
= minor weakness
Daily: Higher vol mark up to close lower, and a close below
middle of bar = potential weakness
Price reaction levels
Short on Test and Reject | Long on Test and Accept
35228 34605 33590
32595 31657
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Have a profitable week ahead.
DOW JONES Pulling back for a lower buy opportunityDow Jones is pulling back to the 1day MA50, which is headed to the bottom of the Channel.
You can sell the distance but focus more on buying as close to 33100 as possible and this is the neckline of the Inverse Head and Shoulders pattern.
Target 34500 (Resistance Zone A).
Can be viewed as the inverted structure of December 15th - February 15th.
Previous chart:
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