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Bearish Outlook Continues Ahead of NFP and U.S Jobs Data ReleaseNFP, Unemployment Rate, and Average Hourly Wage Data Set for Release Today The price declined by approximately 550 points, as highlighted in our previous analysis. From a technical standpoint, today's outlook remains bearish, supported by the positive U.S. jobs data. The price is projected to reach 40,470 and 40,320, with a potential break below 40,320 paving the way toward 40,000. Alternatively, if the price stabilizes above 40,470, it may consolidate between 40,470 and 40,800. These economic reports are expected to significantly influence Dow Jones market movements. Key Levels: Pivot Point: 40620 Resistance Levels: 40700, 40800, 41030 Support Levels: 40470, 40320, 40000 Expected Trading Range: 40700 - 40000 Trend: Bearish while under 40630.
OANDA:US30USDShort
by SroshMayi
2
DOW JONES correction to extend until the Fed.Dow Jones (DJI) did what we expected of it 3 weeks ago (August 13, see chart below) and after pricing a Higher Low at the bottom of the 5-month Channel Up, it rebounded and reached the All Time High (ATH), pricing a Higher High: In continuation of that analysis, we now expect the new Bearish Leg to extend to possibly as low as the 0.618 Fibonacci retracement level, which was the case with the May 30 pull-back. The 1D RSI suggests that a 35.00 value would be ideal to signal a buy (same as May 30, see how both RSI fractals priced the top on the 70.00 overbought limit), while a Bullish Cross on the 1D MACD would be the final confirmation of the buy. Our long-term Target remains 42400 (+11.00% from the Higher Low, the same % rise as the July 18 High). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇
CAPITALCOM:US30Short
by TradingShot
Dow Jones - ShortWhile DJI generally looking bullish trading in an ascending channel, the momentum price reacted at the upper band of the channel and retraced lower. Following a second consecutive session lower, a further continuation lower is anticipated with the middle level of the channel at 4,250 to be a reasonable target price for a price reaction. For the long term, bullish sentiment remains intact, though for such scenario a bullish reversal indication is needed. Does the middle level hold and bounce the price back higher or the lower level of the channel is ahead?
DJ:DJI
by Kyriakos_CFTe
US30 , Today 09/05/2024 Strategy - Sell Or Buy ?!Strategy Overview: In this chart of the US30 (Dow Jones Industrial Average Index), the price action is forming a rising channel within the 15-minute timeframe. The trendlines highlighted suggest potential buy and sell zones based on the interactions with these lines. Key Elements: Trendline Structure: Buy Side: The lower trendline is acting as dynamic support. Each time the price touches this line, there's a buying opportunity, which has resulted in several bullish movements in the past. Sell Side: The upper trendline represents resistance. When the price approaches this area, it faces selling pressure. Trading Strategy: Buying Strategy: A buy trade can be initiated if the price retraces back to the Buy Side trendline (around 40,937), with a stop loss placed just below this support line. The target would be a movement toward the upper Sell Side trendline (near 41,043). Selling Strategy: A sell trade can be considered when the price reaches or slightly breaks through the Sell Side trendline. A stop loss can be placed above this level, with a target back down towards the Buy Side. Confirmation with RSI: The RSI indicator shows both overbought and oversold conditions frequently, which complements the trendline strategy. Currently, RSI is around neutral, meaning there’s potential for either direction depending on where the price moves next within the channel. Conclusion: This strategy uses both support and resistance levels created by the rising channel to define entry and exit points for buy and sell positions. The interaction of the price with these trendlines, along with RSI confirmation, provides a clear framework for making trading decisions in this timeframe.
PEPPERSTONE:US30Short
by Nigouk
US30: First green dayHi everyone and welcome to my channel, please don’t forget to support all my work subscribing and liking my post, and for any question leave me a comment, I will be more than happy to help you! “Trade setups, not movements” 1. DAY OF THE WEEK (Failed Breakout, False Break, Range Expansion) Monday DAY 1 Opening Range Tuesday DAY 2 Initial Balance Wednesday DAY 3 (reset DAY 1) Mid Point Week Thursday DAY 2 ✅ Friday DAY 3 Closing Range 2. SIGNAL DAY First Red Day First Green Day ✅ 3 Days Long Breakout 3 Days Short Breakout Inside Day 3. WEEKLY TEMPLATE Pump&Dump Dump&Pump ✅ Frontside ✅ Backside 4. THESIS: Long: primary, first green day signal potentially is a sign of bullish move, I will be waiting for a 3 session setup dump and pump in the day itself, after all the news. All the trades will be taken after 10am NYT. Short: secondary, although the signal day, I can't exclude a scalp setup back into the LOW, retesting the area for the main trade on tomorrow. Please note that the purpose of my analysis is to help me and you hunting the best trade setup for the day, none of my technical aspects are a way to forecast any directional market movement. Gianni
PEPPERSTONE:US30Long
by GianniPichichero
2
US30 / Bearish Bias Below 41,030 Amid Key Economic Data ReleasesADP, Unemployment rate, and ISM figures are set to be released today. The price followed a bullish trend yesterday but has since corrected to the resistance at 41,030. A sustained position below 41,030 will reinforce the bearish trend, potentially driving the price towards 40,800 and 40,480. Conversely, a 4-hour candle close above 41,030 would signal a continuation of the bullish trend, with targets at 41,180 and 41,345. These economic reports are likely to have a significant impact on market movements. Key Levels: Pivot Point: 41,030 Resistance Levels: 41180, 41345, 41550 Support Levels: 40810, 40690, 40470 Expected Trading Range: 41180 - 40690 Trend: Bearish while below 41030.
OANDA:US30USDShort
by SroshMayi
US30/DOW30 - Preparing stageTeam, we are preparing to short US30 once the price set up confirm at 41035-50. However if the price continue to pass the above price 41150 then we need to review again. Please do not enter yet. We would prefer to trade during US marketing opening. if it go according to our plan, Short will be place around 41035-50, with stop loss at 41232.40 TARGET 1 - 40898.40 TARGET 2 - 40603.10 TARGET 3 - 40297.70 We will update once we are in the market, please check our update comment below the chart. Thank you
PEPPERSTONE:US30Short
by ActiveTraderRoom
1