Weekly Forex Outlook Sun.Dec.8.2024 - Fri.Dec.13.2024Like and Comments would be appreciated :D Not Financial Advice, Just my outlook/opinion
US30 trade ideas
US30 Short Setup: Riding the Retrace to Key Support Levels!Since the elections, traditional markets have been climbing to new highs, showcasing strong bullish momentum. However, I’m now eyeing a short opportunity on the Dow Jones (US30) as it retraces to key support zones around 44,400–44,500. This area appears to be a strong support zone, and my plan is to capitalize on the retracement for a potential long setup near the 44,000 price range.
Currently, US30 is trading below the FibCloud, suggesting room for a retrace to the 44,800 level before continuing lower. My strategy here is to profit from the retracement, then re-evaluate for a long trade based on market conditions near the support levels.
Key Levels:
• Support Zone: 44,300–44,500
• Resistance Zone: 44,800
• Take Profit: 44,440
• Stop Loss: Above 45,100
Market Outlook:
With tomorrow being a U.S. bank holiday, volume may vary significantly. I’ll closely monitor price action and market reactions for further confirmation. This trade aligns with the broader market behavior while taking advantage of shorter-term retracements.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
Do you think this could happen to the US30?
Hi
Should we make a buy?
An uptrend can be said to occur on the 1-hour timeframe when the candles are able to cross the black lines drawn and move upwards.
Bearish drop off pullback resistance?DJ30 is rising towards the resistance level which is a pullback resistance that is slightly below the 38.2% Fibonacci retracement and could drop from this level to our take profit.
Entry: 44,619.03
Why we like it:
There is a pullback resistance level that is slightly below the 38.2% Fibonacci retracement.
Stop loss: 45,135.21
Why we like it:
There is a pullback resistance level.
Take profit: 44,110.47
Why we like it:
There is a pullback support level that is slightly above the 50% Fibonacci retracement.
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DOW LONGDow at bottom of channel and downward trend line also coincides with 61.8 retracement from low and 88.6 from recent low....Im long from here stop just below the box as the lower box is always a possibility
Bearish drop?Dow Jones (US30) is rising towards the pivot which is a pullback resistance and could drop to the pullback support.
Pivot: 44,592.03
1st Support: 44,083.28
1st Resistance: 45,084.89
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US30- Falling to Fill Gap and Rising SoonUS 30 is currently at a major support line at 44388. Price is likely to stay along this support line until tomorrow morning during high trade times between 9am and 11am. Price will likely continue falling or another day, however because we are at a major support line price may bounce off of the current support line faking a sell just to create a bullish trend. Look for a trend reversal between now and Wednesday.
US30 / Dropped and Still Continue Within Bearish Trend Technical Analysis
Dow Jones Already dropped and stabilized below 44755 which means still has a bearish volume to get 44410, it's possible to do a retest till 44750 and then start within a bearish trend.
To be bullish trend should break 44760 by closing the 4h candle above it, to get 44920
Key Levels:
Pivot Point: 44680
Resistance Levels: 44750, 44920, 45090
Support Levels: 44410, 44270, 43900
previous idea:
Dow Jones Wave Analysis 9 December 2024
- Dow Jones reversed from resistance area
- Likely to fall to support level 44300.00
Dow Jones index previously reversed down from the resistance area between the resistance level 45000.00 (which has been reversing the index from the end of November), resistance trendline of the daily up channel from August and the upper daily Bollinger Band.
The downward reversal from this resistance zone started the active minor correction iv of the higher impulse wave 5 from last month.
Given the overbought daily Stochastic, Dow Jones index can be expected to fall toward the next support level 44300.00 (former resistance which stopped wave i at the start of November).
Dow Jones reaching 44k zone again, bearish movements after NFPDuring last month the index reached 7% increase in price but now is waiting for the CPI data on Wednesday and FED decision in the following days. The price is now neutral around the 44k zone but the bullish tendency is strong as for now.
Main resistance is the 44k zone, upward movements can enhance the actual tendency.
Main Support is 43k and 41k zones. Any movements below the 41k could endanger the actual tendency on the chart.
There is also a bearish divergence between movements in price and movements in RSI. This signals losing of price momentum and probably can warn about corrections in price.
Following this, we have to wait for the new fiscal policies of United States.
Dow Jones Potential UpsidesHey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 44350 zone, US30 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 44350 support and resistance area.
Trade safe, Joe.
DJI Is Bearish! Sell!
Please, check our technical outlook for DJI.
Time Frame: 9h
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is on a crucial zone of supply 44,642.75.
The above-mentioned technicals clearly indicate the dominance of sellers on the market. I recommend shorting the instrument, aiming at 43,791.11 level.
P.S
Overbought describes a period of time where there has been a significant and consistent upward move in price over a period of time without much pullback.
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US30 LONG IDEA I’m looking at this long trade on US30 back to the upside to take that external liquidity
Risk wisely if you’re joining me, what do you think?
Follow me for more trade ideas
US30 Bullish Swing Setup Using Market Breadth EMA AlignmentKey Observations
✅ Support at Key Levels:
The price has approached the lower Bollinger Band (~44,579), a zone that historically attracts buyers. This area often signals oversold conditions and potential for a reversal.
✅ Market Breadth Confirmation:
Our proprietary Market Breadth EMA Alignment tool shows a stable bullish breadth value of 10 stocks, with bearish breadth limited to 5 stocks, suggesting that bullish momentum may resume soon.
✅ Candlestick Support Formation:
Recent candlesticks near the lower Bollinger Band indicate rejection of further downside, forming a potential support base for a short-term reversal.
Swing Trade Setup
Entry Plan:
Aggressive Entry: Enter near the lower Bollinger Band (~44,579) with tight risk management.
Conservative Entry: Enter long on a confirmed close above the mid-Bollinger Band (~44,634) for additional confirmation.
Profit Targets:
Target 1 (T1): Mid-Bollinger Band (~44,634).
Target 2 (T2): Upper Bollinger Band (~45,034).
Indicator Insight
This analysis uses the Market Breadth EMA Alignment tool to quantify bullish and bearish momentum across US30 components. By observing the alignment of bullish versus bearish stocks, traders gain additional insight into market sentiment.
Risk Disclaimer:
⚠️ This publication is for informational purposes only and does not constitute financial advice. Past performance is not indicative of future results. Always trade responsibly and use appropriate risk management techniques.
Access to the Script:
This idea incorporates an invite-only script. If you’d like to learn more about the script’s functionality or request access, please message me directly.
1-hr US30: Slowed Upward Momentum Might Attract SellersFor the past couple of weeks the 45 000 level in the US30 has acted as resistance and since last week we registered a 400 point drop in the index. It is only normal to see a pullback after a massive bull rally, as many of the early buyers are selling to take profit. The strong bearish momentum, which currently dominates Dow Jones, is also confirmed by the Death Cross - a classic sell signal. A potential issue for short sellers however, is the rather low value of the RSI. This, added to the 400 point recent drop, might attract short term traders, who will want to "buy the dip". We would prefer to enter a sell, only after the value increases slightly, so we can achieve a better risk to reward. Looking at the current price action, the critical 50% Fibonacci retracement level seems like a possible resistance area, from where the US30 might continue to correct south. This zone corresponds to 44 800, or 200 points above the current market value.
DJIDJI - Dow Jones
Order Block
Break of Structure
Bullish Channel as an Corrective Pattern in Short Time Frame
Completed " 12345 " Impulsive Waves
Change of Characteristics
US30 H4The S&P 500 and the Nasdaq Composite closed at all-time highs Friday as official data showed the economy added more jobs than projected in November.
The technology-heavy Nasdaq rose 0.8% to 19,859.8, while the S&P 500 gained 0.3% to 6,090.3. The Dow Jones Industrial Average fell 0.3% to 44,642.5. Consumer discretionary led the gainers among sectors, while energy saw the biggest drop.
For the week, the Nasdaq jumped 3.3%, while the S&P 500 increased 1%. The Dow dropped 0.6%
In economic news, total nonfarm payrolls in the US climbed by 227,000 last month, the Bureau of Labor Statistics reported. The consensus was for a 220,000 increase, according to a survey compiled by Bloomberg. The unemployment rate rose to 4.2% from October's 4.1%, which was the market view for last month.
US30 Bearish Reversal Signals Looming?The Dow Jones Industrial Average (US30) may be setting up for a potential pullback, as technical indicators signal weakening momentum.
Key Observations:
- The price has approached the upper Bollinger Band resistance (marked by circles in the chart).
Historically, such instances often coincide with price corrections or consolidation phases.
- Recent candles indicate hesitation, with bearish pressure emerging near critical resistance levels.
Indicator Confirmation:
- The Market Breadth EMA20 has dropped below 20, reflecting reduced market participation and signaling potential waning bullish momentum.
- The Dow's failure to sustain above the upper Bollinger Band, coupled with rejection candles, strengthens the case for a reversal.
Disclaimer:
This analysis is for educational purposes only and does not constitute financial advice. Always do your own research and manage risks effectively.
DJIA H4 | Approaching overlap supportDJIA (US30) is falling towards an overlap support and could potentially bounce off this level to climb higher.
Buy entry is at 44,527.74 which is an overlap support that aligns with the 23.6% Fibonacci retracement level.
Stop loss is at 43,710.00 which is a level that lies underneath a pullback support and the 61.8% Fibonacci retracement level.
Take profit is at 45,542.92 which is a level that aligns with the 161.8% Fibonacci extension level.
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Dow Jones for buyIf you're trading today, consider the current consolidation pattern and news impact. Higher times are still in pullback so bit caution here ⚠
Dow Jones for buyThe Dow Jones Industrial Average (DJIA) is showing mixed performance today, reflecting recent market sentiment. As of now, there’s cautious optimism among investors due to favorable economic data. However, some components are lagging, particularly in sectors like healthcare and technology, while financial stocks show modest gains.
US30 Faces Downside; Key Supports in FocusHello,
BLACKBULL:US30 appears poised for potential downside as both the 1W and 1D pivot points have acted as resistance. The extent to which supports will be tested remains uncertain. Key levels to watch include strong 1M support at 43,095.7095 and 1W support at 44,344.641.
No Nonsense. Just Really Good Market Insights. Leave a Boost
TradeWithTheTrend3344
US30 at a support line- Most Likely to continue bearishUS 30 is bearish from reaching an all time high. Currently sitting on a support line at 44613 look for price to react at this level giving an opportunity for a buy or a sell. Keep in mind the US30 loves to fake so be sure to pay attention to a retest once price breaks the support line. Our bias is price will continue in the trend downward until it reaches 44360
