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US30 trade ideas

US30 / Key Levels for Bearish Continuation or Bullish BreakoutUS30 Technical Analysis The price has declined from the previously identified resistance line and is now approaching 42,125. A break below this level is necessary to continue the current trend. Bearish Scenario: The price must break below 41,960 and stabilize beneath this level to extend the bearish move towards 41,560. Bullish Scenario: US30 is likely to consolidate between 42,125 and 42,450. A breakout above 42,450 and subsequently 42,590 would strengthen the bullish outlook, targeting 42,770 and 42,910. Key Levels: Pivot Point: 42125 Resistance Levels: 42430, 42590, 42770 Support Levels: 41960, 41750, 41560 Trend Outlook: - Bearish by stability below 42125 - Bullish by stability above 42450 PREVIOUS IDEA:
OANDA:US30USD
by SroshMayi
US30 / Key Levels for Breakout from Consolidation ZoneUS30 Technical Analysis Following the retest at 42,450, the price has dropped approximately 500 points as anticipated. Currently, US30 is expected to consolidate between 41,970 and 42,130 until a breakout occurs. Bearish Scenario: The price needs to break 41960 and stabilize under it to continue the bearish side toward 41740 and 41560 Bullish scenario: any breaking above 42130 will support the bullish trend to get 42290 and 42450 Key Levels: Pivot Point: 41970 Resistance Levels: 42130, 42290, 42450 Support Levels: 41750, 41560, 41350 Trend Outlook: - Bearish by stability below 41970 - Bullish by stability above 42130 - Consolidation 41970 and 42130
OANDA:US30USDShort
by SroshMayi
US30 Holds Bearish Bias Below Key Resistance LevelsUS30 Technical Analysis As long as trades under 42450 will support a bearish trend to touch 42125and below that will get 41950 as well Stability above 42,125 may prompt a move toward 42,300 and 42,450; however, a bullish reversal requires a breakout above 42,590. Key Levels: Pivot Point: 42280 Resistance Levels: 42770, 42910, 43050 Support Levels: 42125, 41950, 41750 Trend Outlook: - Bearish by stability below 42450 - Bullish by stability above 42590 previous idea:
OANDA:US30USDShort
by SroshMayi
Dow: Key data, earnings and US election all coming upStocks rebounded on Monday with oil prices taking a 5% plunge, amid an apparent easing in Middle East tension. The restrained reaction by Israel after recent attacks has spurred optimism, with markets hoping for stability in the region. European indices closed higher as we begin a very busy two weeks, with lots of data, US election and central banks meetings on the way. Treasury yields could take toll on stocks With the 10-year rising to a new 3-month month high of 4.29%, this could unravel risk assets. Having just closed lower for the fifth consecutive day, resulting in a weekly loss of more than 2.5%, the Dow could be the one to watch for potential underperformance. Small caps also slumped last week, while the tech-heavy Nasdaq finished flattish, helped by Tesla’s earnings and Nvidia surging to a new record high. Looking under the hood, financials (XLF) led the drop on Friday with a fall of 1.1% and nearly 2.1% for the week. Industrials (XLI) lost 2.8% on the week, while energy (XLE) lost 0.6% on the week and ensured a hattrick of weekly losses. Technology (XLK) was flat on the week, while semiconductor (SMH) rose 0.6%. Once again gold outperformed with GLD rising 0.8% last week. With financials and industrials taking the biggest hit, and energy also not doing great, the Dow and Russell are the obvious markets for the bears to potentially target, if sentiment turns sour again. Economic Data Points to Slower Rate Cuts Last week’s stronger economic indicators have reinforced expectations that the Federal Reserve may take a measured approach to future rate cuts, but will that change in the week ahead with some top-tier data to come including JOLTS, non-farm payrolls and ISM surveys? Last week’s data releases—such as jobless claims, services PMI, and durable goods orders— all surpassed forecasts, suggesting economic resilience. If we see a similar outcome from most of this week’s data releases, then that could even raise question marks over further rate cuts beyond the two more priced in for this year, as the Fed may be more inclined to wait and see before easing policy further. While a strong economy supports corporate earnings, it can also sustain higher yields, which may weigh on stock valuations. As a result, traders and investors are closely watching incoming data to gauge whether the Fed will indeed adopt a more gradual approach to rate reductions. US Election Uncertainty Adds Pressure The US presidential election is also in focus, with polls and odds markets showing a close race. Some betting markets are leaning toward a Trump victory, while other polls show a tie. A Trump win could have inflationary implications, potentially impacting the Federal Reserve’s approach to rate policy. Given Trump’s policies, investors may anticipate a more aggressive Fed response to manage potential inflation, which could affect stock prices and increase market volatility. The uncertain outcome has led investors to adopt a cautious stance, with many waiting to see how the election results may influence the Fed's future policy decisions and overall market sentiment. This has been evident in markets falling last week, VIX rising and gold hitting new record highs. Upcoming Earnings and Economic Reports As we head into a pivotal week and a half, several high-impact events could shape market direction. Investors are bracing for a series of earnings reports from major companies, often referred to as the "Magnificent 7" stocks, alongside the US monthly jobs report. These, combined with the US election on November 5, represent a series of risk events that could sway investor sentiment. Given the recent increase in yields, strong economic data, and the close election race, it is unlikely we’ll see investors rush to buy the dips. For now, a cautious approach may be warranted as investors navigate these uncertainties and await clearer signals for the market’s direction. Week ahead: Jolts, BoJ, NFP and lots of earnings There are at least a couple of major macro factors that could impact the Dow this week, while on a micro level, several tech names are reporting their results. 1) JOLTS Job Openings (Tuesday) With the Fed’s focus turning to employment, we will give preference to any labour market indicators over other data releases in the next couple of months. Though this data release is not very up to date (with this one covering August), it can still impact the market because job openings are a leading indicator of overall employment, and they usually take a few months to be filled. Last time we saw a surprisingly strong print of 8.04 million, aiding the dollar’s rally. 2) US nonfarm payrolls (Friday) Last month’s surprisingly good nonfarm payrolls data helped to fuel a big rally in the dollar as the market was forced to drop its calls for further outsized rate cuts from the Fed. Let’s see if those numbers will be revised and whether the strength in the labour market continued for another month. Any further strength in employment data could even call into question the now lower expectations of 50 basis points worth of more rate cuts in the next two FOMC meetings in 2024. This will undoubtedly move the Dow and other US indices too. Dow key levels to watch The technical Dow forecast has turned a tad bearish following last week’s drop. The last weekly drop of a similar magnitude took place in early September. That time, though, there was no immediate election risk, and so the index quickly bounced back and went on to hit new records in the pursuing weeks. This time, it could be different. Still, we will need to see a lower low to confirm the bearish reversal beneath the last short-term low at 41,800. If seen, we could see a sizeable drop with the next obvious support not seen until around 40,900 to 41,000 area. The longer-term trend line and 200-day average converge around the psychologically important area of 40,000. Standing in the way of these potential support levels is another one close to where the market finished on Friday and where it has staged a bounced from today, around 42,000. In terms of resistance levels to watch, the most important one in my view lies at 42,400 to 42,500. This area is now pivotal insofar as the short-term technical outlook is concerned. By Fawad Razaqzada, market analyst with FOREX.com
FOREXCOM:US30
by FOREXcom
US30 Trade Idea 29 Oct 2024 (Time Frame H1)The chart you've shared shows the Dow Jones Industrial Average (DJIA) on a 1-hour time frame. Here's a breakdown of the analysis, based on what I can see: Observations: Elliott Wave Count: The chart has Elliott Wave annotations, specifically identifying a correction pattern (labeled a, b, c) followed by a possible impulsive move (labeled i, ii, iii, iv, v). Fibonacci Retracement Levels: Multiple Fibonacci retracement levels are drawn, suggesting potential areas for price reversals. Key levels are marked at 0.236, 0.382, 0.5, 0.618, and 0.786. Projected Path: The white zig-zag line projects a possible upward trend following the completion of the current wave structure, with a target above the 0.5 or 0.618 retracement levels. Stochastic Oscillator: The oscillator below shows values near the oversold region, which could indicate that a reversal is near. Potential Trade Idea: Entry: Wait for a confirmation of the fifth wave completion (v) near the support zone or Fibonacci extension levels (like 1.23 or 1.618). If the price holds and begins to turn upwards, it could signal the start of an upward impulsive move. Target: Initial targets could be set at the Fibonacci retracement levels, such as 0.382 (42,413), 0.5 (42,393), or 0.618 (42,373). A stronger move could aim toward the higher Fibonacci levels. Stop-Loss: Place a stop-loss below the recent low, possibly below the 1.618 Fibonacci extension level (42,203), to limit downside risk. This analysis suggests a potential bullish reversal setup after wave completion. Make sure to monitor the price action for confirmation before entering a trade, and adjust risk management based on market conditions. Happy trading and trade wisely guys..
FX:US30Long
by mustaqim.mazuky
US30 / Dow Jones Buys!!!Analysis Confirmation 1. Fibonacci Levels: I’ve marked the 0.618, 0.786, and 1.618 Fibonacci levels, which align well with potential reversal and target areas. The 0.618 level at approximately 42,327 acts as support, while the 0.786 level around 42,479 provides additional confirmation near the breakout point. 2. Descending Triangle Breakout: Your chart shows a descending triangle with the resistance trendline below the 42,500 area, indicating a potential breakout if the price can close above it. This pattern suggests bearish exhaustion, so a breakout above the trendline could initiate a bullish move. 3. Target Levels: You’ve set the 1.618 and 2.618 Fibonacci extension levels as potential targets, at approximately 42,884 and 43,374 respectively. These strong resistance zones give realistic take-profit levels if the breakout occurs. 4. Moving Averages and Support: The price is supported by the 200-period moving average (black line) and is currently testing the 50-period moving average (blue line). A break and hold above the 50-period moving average could signify bullish strength. Trade Description Entry: - Enter a buy position on a confirmed breakout above the 0.786 Fibonacci retracement level around 42,479. Look for a strong close above this level to confirm momentum. Stop Loss: - Set a stop loss below the 0.618 Fibonacci retracement level, around 42,340, to manage risk in case of a pullback or false breakout. Take Profit: - First target: 1.618 Fibonacci extension level around 42,884, which could serve as the initial resistance. - Second target: 2.618 Fibonacci extension level around 43,374, if bullish momentum continues. Risk Management: - Keep your risk per trade low, ideally around 1-2% of your account balance, especially if this is part of your account growth strategy.
BLACKBULL:US30Long
by Sthesh_Don_Billiato
Dow Jones IndustrialHello community, A short daily analysis of the famous Dow Jones Industrial. As long as we stay above the red line at 41832 points, there is not much to worry about. However, if we break this level, it is another story. I drew a Fibonacci, to have the levels. The market is nervous with the Trump and Kamala duel. The trend is still bullish, because we are above the simple average of the 200 periods! Make your opinion, before placing an order. ► Thank you for boosting, commenting, subscribing!
DJ:DJI
by DL_INVEST
Update to Dow Jones Industrials Time At Mode Back in 2015 I had published a chart with annual data for the Dow Jones Industrials. I will provide a link at the bottom. The research for this patterning is something I did myself by hand using pencil and paper back in the 1980's. These patterns show up in all time frames. There is plenty of room to enhance the research on this technique and a group of us gather in the chat rooms here at TradingView to discuss new trades that set up and point out when trades expire. Notice how these two grey boxes (which are both 50% drops in price) that expand wider in time from the 1960's to the 1980's and the 2000-2010's had a multi-year trend, followed by a monster crash (1987 was 40% and 2000 was 37%) and then just two+ years later there was a secondary bear market of 20% in 1990 and 22% in 2022. Keep in mind this is just for the DJ:DJI and not the Nasdaq Composite or S&P500 which were greater corrections. The 11-year time frame of the 1999-2011 pattern allows for an 11-year rally from 2012 (which was year 1 of the 11-year rally) shows that time expired. As you can see from the 1943-1962 trend, a smaller 5-year mode formed at the end of the 20 year trend and then the market peaked in 1972-1973 when time expired for the second, smaller mode. I had to reconstruct this chart after the data for the previous chart changed symbol. See the link below to see the original. I look forward to your additional research onto this pattern and its implications to the idea that we are in a similar period to 1993-1994 with rally years of 1996, 1997, 1998, 1999 and 2000 ahead of us. All the best, Tim October 19, 2024 3:31PM EST
Editors' picks
TVC:DJI
by timwest
14
US30 H4 - Long Signal!!Something like this would make sense for us on Dow Jones, we gapped up massively to start the week and we are still looking to continue higher, once the dust has settled, we can see where we are on US30 and which zones are in play. Hopefully we can gain something buy catching longs from this 42,300 price when it trades higher and retests again as support price. This 42,300 price when it trades higher and retests again as support price. We saw a big selloff Friday, dumping as much as 600 points in a single 4 hour period, seeing that move correct and sustaining would be a requirement for what we are after. The market gaps were no doubt significant, being in excess of 100 points.
BLACKBULL:US30Long
by peuypaju