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E-mini Dow Jones ($5) Futures

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YM1! trade ideas

September FOMC Support LevelsThe September FOMC 8 Hour candle and its 7 different price levels is what determines the support levels. I made an indepth post about ALL FOMC's and how they relate to support and resistances. The 7 prices of this candle are as follows: 1. The high of the candle The high of the candle is being used as a mean reversion and price is trading back and forth around the high. Friday's NFP day used this price as both support AND mean reversion. Thursday used both the top 1/3 and the high price to form support and resistance zones Wednesday used the high price all day as a mean reversion trading around this price with the last two hours of the day using it as support. Tuesday also used it as mean reversion trading around this price and using it as support and resistance Monday used it as support twice and also used the top 1/3 as major support. 2. The top 1/3 of the candle The top 1/3 of the candle is being used as major support 3. The Open of the 8 hour candle The open of a FOMC candle is of great significance. It offers the greatest support levels. Notice on the day itself that the open of this 8 hour candle that the FOMC spike candle DID NOT break the opening price? It did eventually at the end of the day but swiftly recovered. The July FOMC's open price was used as major support and resistance here as well. 4. The close of the 8 hour candle The close of the candle was also used as support the following day for the rip higher.
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro
Dow Jones FOMC Analysis As It Relates To Support/ResistancesI have noticed that price action has been revolving around each FOMC. The Blue circles are each FOMC Wednesday's The Purple Lines indicate the opening price of that 8 Hour Candle Each FOMC is connected to each other in price. The 8 hour candle on the FOMC is used with all 4 prices: The open The high The low The close Starting with December 2023: It opened and proceeded to form a fat bullish candle. The high and the close PLUS the top 1/3 of that candle was used as support for the next 30 days, with the top 1/3 used as the bounce to new highs. January 2024: This FOMC was bearish and the opening price of this candle was then used as a mean reversion that price was oscillating around for the next 21 days in a range. Price went to new highs and then used the opening price to find support and bounced right at the same time the next FOMC was going to be released. March 2024: This one I am not sure about. It made the same pattern as the December FOMC but was traded through. Price eventually returned all the way down to where at? Almost exactly at the opening price of the December FOMC. The March FOMC was used as support for the May 10-13th pullback AND resistance for the June 24-July 08 Range. The September low on the 11th was coincidently CPI and it pulled back ALMOST to the exact price of the March FOMC's opening price. May 2024: The opening price of this candle is exactly the price of the high of the December FOMC's candle. The closing price of this candle was used as the support for the May 30th's bounce and the low of August 5th after that nasty sell off. A repeating pattern is price always returns back to a prior FOMC candle but NEVER trades below it. Price is always defended to the last tick. This happened 4 times this year. June 2024: This FOMC candle opened up at the EXACT price that the January FOMC candle did. Interesting. The June candle was then used as support for the June 24- July 08 range. It was also used as support and resistance after the August sell off when forming the bottom. July 2024: This FOMC candle's high was the exact price of the most recent September's low was. Interesting. I believe the July FOMC was used as a catalyst to sell off to take prices back down to the May FOMC as intended. September 2024: Finally, we reach our most current FOMC that has passed. The high of that candle has been performing the same as the January FOMC candle in that it is being a mean reversion and price is trading around that median price. If the pattern is to be continued where upon they are defending higher and higher FOMC prices, then the last two to be defended are the July and September FOMC prices. That means that if they are defending these prices that price CANNOT go below 40,300 and that the CPI September 11th Low IS the Low.
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro
Dow Support Zone 42,000-42,075 Bounce TRGT 43,725I am anticipating a bounce off of support from the 42,000 area before completing the one full range expansion to 43,725 price level. The last 10 days or so, price has been revolving around the HIGH of FOMC of 42,400 It has found support around the mid point of the Thursday the 19th's 8 hour candle and the high of Tuesday the 17th's high. Between 42,250-42,300 support FOMC HIGH as mean reversion of price Pullback into the FOMC range and find support on 42,000
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro
When to expect a trend or when to expect a range sessionWhat I look for on the open to help define whether I expect a range based open or session...or a trend based trading session. By using an Anchor chart and a trading chart, I am able to define the price action with regards to momentum and price direction. From there, it is then a process of waiting for the setups to develop. ANY QUESTIONS, JUST LEAVE IN THE COMMENTS !! ** If you like the content then take a look at the profile to get more ideas and learning material ** ** Any Comments and likes are greatly appreciated **
CBOT_MINI:YM1!
by TradeTheStructure
Dow Jones Range Bound Sell Into Peak Formation 13:1 TradeI will be placing my sell order at the Peak Formation High at 42,845 with a 50 tick stop. I will be targeting the low on Wednesday September 25th at 42,200. Because Dow is in a range consolidation, I will buy the lows near 42,000 and sell the highs near 43,000. I don't know when the trade will trigger but I will leave it there until it triggers with an OCO order. Any time price pulls back into a peak formation, whether it be low or high, prices tend to hold and reverse. The fact that you have two lows suspended above support from FOMC is a clue they will get ran. Also, the fact that Friday's parabolic long trade already got taken out is a clue to more downside to come.
CBOT_MINI:YM1!Short
by Dow_Jones_Maestro
Updated Gameplan for Dow Jones (2024-2026 Consolidation)I can see a clearer picture of the price action before me. This is what I now believe to be happening. Price will be going in a sideways range for the next 24 months. To confirm this thesis, I will need to see that stop run low and close back inside. Next, I will need to see price retrace back down and layer into that low but not take it out. One full range expansion of this range will be 49,000 If this thesis is true, then we are nearing a sort of rounding top. I believe 2024 will finish the year out going sideways up at the top.
CBOT_MINI:YM1!
by Dow_Jones_Maestro
the E-mini Dow Jones futures are currently in an upward trend w Trend Analysis Current Trend: The chart shows an upward trend, indicated by the ascending channel. The price is currently near the upper boundary of this channel. Support and Resistance: A significant support level is marked at 40,182, while the resistance is around the recent highs near 42,443. Candlestick Patterns Recent Movement: The latest candlestick shows a strong bullish movement with a gain of 2.45%, suggesting positive market sentiment. Volume Analysis Volume Trends: The volume appears consistent, with no extreme spikes, indicating steady participation in the market. Seasonal Performance Monthly Trends: Historically, October shows a positive average return of 2.32%, while November is even stronger with 4.21%. This suggests potential continued strength in the coming months. Yearly Comparison: The table indicates varying performances over the years, with 2024 showing a relatively stable performance compared to previous years. Technical Indicators Moving Averages and Trend Lines: The chart includes trend lines that support the current bullish trend. Monitoring these lines can help identify potential reversals or continuations. Conclusion Overall, the E-mini Dow Jones futures are currently in an upward trend with strong support levels. Seasonal trends suggest potential for continued gains in the near term. However, traders should remain cautious of any signs of reversal at resistance levels.
CBOT_MINI:YM1!Long
by curtischangTW
Intraday Elliott Wave View on Dow Futures (YM) Favors the BullisShort term Elliott Wave view on Dow Futures (YM) suggests that cycle from 8.8.2024 low is in progress as an impulse. Up from 8.8.2024 low, wave (1) ended at 41682 and wave (2) pullback ended at 40028 as the 1 hour chart below shows. Internal subdivision of wave (2) unfolded as a zigzag Elliott Wave structure. Down from wave (1), wave A ended at 40264 and rally in wave B ended at 41065. The Index then extended lower in wave C towards 40028 which completed wave (2) in higher degree. Index has turned higher in wave (3). Internal subdivision of wave (3) is unfolding as a 5 waves impulse. Up from wave (2), wave ((i)) ended at 41100 and wave ((ii)) pullback ended at 40701. Wave ((iii)) higher ended at 42184, and wave ((iv)) pullback ended at 41890. Final leg wave ((v)) ended at 42270 which completed wave 1 in higher degree. Pullback in wave 2 unfolded as an expanded flat where wave ((a)) ended at 41893, wave ((b)) ended at 42416 and wave ((c)) ended at 41850. Index has resumed higher in wave 3 of (3). Near term, as far as pivot at 40028 low stays intact, expect dips to find support in 3, 7, or 11 swing for further upside.
CBOT_MINI:YM1!
by Elliottwave-Forecast
Dow Jones Weekly Template Of FOMC Bullish Weekly TemplateBased on market structure, I am looking for a bullish weekly template with a pullback into support for the continuation of the trend. I am looking for at least a 1 times range expansion of last week's range. Thursday and Friday broke out. Friday closed as a breakout with Longs now in the market. Monday is a buy low continuation and the opening range for the week. I believe Wednesday will be the same as last week as the mid-week reversal at the low of the week for the trend continuation Long into Friday's Low and Monday's high. The weekly candle should close bullish and at/near the highs. I will be paying attention to the purple line as that is the weeks open. I will be watching price as it auctions around the open of the weekly candle. ATR on the 15-minute chart is 75 ticks and so that will be what my stops are. 75 tick stops 195 tick targets I will be using 2.6 risk to reward.
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro
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