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DJIA1! trade ideas

Dow Jones Daytrading Weekly Template Ahead Key LevelsSetting up my key levels for the current weekly template I will be expecting a range week as it is inside of a bear flag. Two levels that jump out at me are Last Week's Low and the middle of the range line at the bottom yellow box. I will be using those as targets. I think the 12's CPI was the last lower high and this week will make another lower high and new lower low. The average weekly candle is 947 ticks from high to low Some scenarios I can see playing out are the following It just depends on if price will work the high first or go down to the low and work that low. I will be looking out for June's Open price as a major resistance level. After going through the last 120 years on the monthly chart, 80% of all June's have been down months. I will be mostly looking for sells and will be using my trade management of: Max 2 Losses per day 50 tick stop losses 125 tick take profits 2.5 risk to rewards No trading the first hour 4 Hour trend/structure 15 minute entry time frame Shooting for 40-45% win rate
CBOT_MINI:MYM1!Short
by Dow_Jones_Maestro
Very interesting similarity between the ES1! and YM1!I was recently watching a video in the ideas section of trading view and I notice this person speculates that the price will drop lower in the Dow Jones. Interestingly enough, this also lines up quite well in my charts. It's important to notice that many differences exist between these two tickers. The fluctuations of the CBOT_MINI:YM1! and the CME_MINI:ES1! are quite different. I had to adjust the n data previous points in the short term mean return indicator to 20 as well as set the sensitivity to 2. This way the chart was not overcrowded and easier to read. As well as larger short term MA and distribution was needed. I'll take advantage of this difference to explain what happens when the parameters in the indicator change. There are two factors to the sensitivity of the indicator. One is the number of previous days considered (parameter n). The higher this value is, the less sensitive the indicator is, therefore it's better at detecting longer term trends. This is the reason why I include 2 in the indicator. One to see the short term trend and one for the long term trend. This in addition to knowing where we are in the distribution help me for a hypothesis of what is most likely to happen next. One key factor of my strategy when trading is to never go short unless you are absolutely sure you are correct, always look for discounts and take profits. It's better to buy at discounted prices than trying to catch both waves of the market. You already know the market did one wave, what do you think will happen next? Of course, the next wave! I personally trade with no stop loss to not materialize erroneous entries and look to buy even more as prices continue to drop and are at attractive levels. Unless there is a clear possible break of market structure like it's visible here, as the 200MA has been used in the past as strong points of support and resistance. If this structure is broken, then it's quite possible that price will trend even lower, so this trade does require a stop loss. When I was more of an intermediate and unprofitable trader, I relied a lot on two indicators, which did give me the ability to make somewhat accurate predictions. Since tradingview has kept increasing the restrictions on free accounts, I had to choose between two of my favorite indicators. The RSI and the MACD. I chose to keep the MACD as it's visible on previous trades. Mean Returns offers the value of these two indicators into one, plus tests out a new hypothesis that I've been testing so far with great success. The basic premise of this indicator is to chart the market cycles in terms of average returns generated in the n periods before and the current one. Additionally, it creates the supposition that the market has inertia and therefore is likely to continue doing what it's already doing (aka: the trend is your friend) I hope the original posters of the video @AdvancedPlays gets to see this and find it to be of value. Always remember there are no certainties in the markets, only probabilities
CBOT_MINI:YM1!Long
by DarkMessiah777
Price Mean Reverting Around 2024's Open. Buy Low Target 120,000Price is oscillating around 2024's open price and is currently forming a bear flag to break down and start the pendulum swing on the other side of the open. This is where I will be looking to start scaling in my Long position for the next 15 years. After it touches down there at 37,000 it will never come back. That will be the prime time to buy. After it reaches price target of 150,000 in 2042, in order for it to reach 37,000 again, it must go through a 75% decline. The only time that has happened in the past was 1929 crash of 90% decline. 2024's Open Price and 2023's Closing Price are exactly the same These will be my next three buys in 2024 Stops will be 800 ticks on the Dow Targets will all be 120,000 price level I will be building my position from now 2024 until about 2040
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro
Triple Screen Time Frame Analysis StrategyI am still trying to perfect my day trading strategy and am making this post for me to better understand all the moving parts of what it is I am trying to accomplish. I will use three time frames Weekly (Major Trend Direction) 4 Hour (Structure/Key Levels) 15 Minute (Lower Time Frame Entry) On the weekly time frame, I will mark January 1st 2024 to December 31st 2024 for the entire trading year. I will then mark the price the year opened at with a teal line. This is the open of the 12 month candle. I will then open up the ATR indicator to gauge the average weekly movements using the 14 period I then switch to the 1 period to see each individual weekly range. I can see that the 1 period ATR on average is roughly 1,400 ticks from high to low. Seeing how the 14 period's average is roughly 1,200 as well, I can say on average a given week should have roughly 1,200-1,400 ticks of movement from high to low. The weekly trend is bullish and trending higher in a spike and channel. Out of the last 31 weekly candles since the start of the move up, only 11 candles were of any bearishness. That is only 35% of all selected candles. The other 20 were bullish or a whopping 65%. The 4 hour time frame is for the structure and key levels. Over the course of this year there has been ample buy opportunities followed by selling spikes into the uptrend. A massive "W" is forming On the 15 minute, if I can align myself with the bigger move and limit myself to one trade a day, if it presents itself, with my 3:1 ratio, then my win% shall increase. I don't care how much further price went without me, as long as I hit my 3R target, that is all I care about. My personal goal is a 40% win rate with my 3R system.
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro
2
Market Crash - Dow Weakness and Ascending WedgeHere with yet another ascending wedge. The dow recently went on a huge run, I believe 8 green days in a row or something close to that. It topped out near ATH and nearly retested it's ascending channel before becoming extremely weak. It has now breached several support levels and has failed on retests while forming an ascending wedge and closing below on Friday. I expect a gap down on Monday and further downside throughout the week.
CBOT_MINI:YM1!Short
by AdvancedPlays
How to pick trades in different market conditionsIn the video I look at two different markets and the resultant setups which yielded the prime trades. The two markets had to be approached in different ways, especially early in the session. I look through the price action on the DOW and then the Nasdaq. The DOW proved to be more clear cut and a trend style approach while the Nasdaq was very choppy and warranted a range or reversion style approach to the trades. Still, both were tradable and produced some good scalps although the action had to be recognised early. 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!Education
by TradeTheStructure
2
Dow Jones 2024 Daily Chart Spike and Channel Buy Setup 42,000 I made a post yesterday about the rest of 2024 and I have more updated information. This is what I will be playing going forward. A buy set up in a spike and channel with the target of 42,000 by year end. The teal line is the open of the 2024 yearly candle Prices below the teal line is the bottom wick There will be one more lower high and another pullback into the rectangle box I have set before the climb to 42,000 I am anticipating the buy in August That will close the year around a 13% gain from high to low or 4,800 ticks. I have my buy set at 38,774 Stop below the middle line on range box at 38,134 (650 ticks) Target at 42,000 area for (3,400 ticks) Around a 5 to 1 on the daily chart
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro
1
Using Multi-Timeframe analysis for a major WinnerMulti-timeframe analysis is a key techniques for prepping a market prior to a trading session. The first thing to do before trading is to understand the major moves and longer term price action. This enables us to get on the right side of a sessions move and avoid a lot of the chop. We take a look at the DOW from the previous trading session and talk through the 30 min timeframe and why it was so important for the 500 pt rally into the close. I talk through the key price action, the trap of shorts before the big move up and why we needed to be on the long side of the action. 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!Education
by TradeTheStructure
Dow Jones Weekly Bull Flag PatternThere is a lot to take in on this chart. How do I start to explain what it is that I am seeing? The dark green line is the monthly major movement and the black path line is the 4 hour movement in between that major movements. Price is being contained inside of a MAJOR bull flag pattern that will take MONTHS to resolve itself. Using the concept of thirds of that major move from November 2023, I firmly believe price will return to the halfway point, which is also the top of the peak of that July-October pullback from 2023. The ramped volume that is sitting just above the 0.66 or bottom 1/3 is a dead giveaway that price will return and take that out. The small range created just slightly above the 0.50 mark is also a dead giveaway that that price will be taken, along with the fact that the purple box Low that broke structure is suspended above the 0.50 line as well. These are all clues that price WILL be returning to these locations. Finally, the space between those recent double top highs and the 1 full range expansion of the July-October pullback is a dead giveaway that price will return to those highs and take them. This will mean that the high will break and more All-time highs will be made to continue the bullish trend up until 2033. On a zoomed-out view of the bull flag, a measured move of the November run will take price up to the 44,000 area Of course I am not a genie that can predict prices, I am merely trying to follow the bull trend higher and to me, this is what I am seeing. Please comment below on your thoughts as I am highly interested in sharing feedback. I have no problem putting my ego aside and admitting I am wrong. This is one trait I do not have issues with as I am wrong quite often with a 40% win rate.
CBOT_MINI:YM1!Long
by Dow_Jones_Maestro