Dow JonesPair : Dow Jones - DJI
Description :
Double Top
Bullish Channel as an Corrective Pattern in Long Time Frame
RSI - Divergence
Break of Structure
Completed " 123 " Impulsive Waves
US30 trade ideas
Price Decline Signals Downtrend Bullish Reversal Needs StabilityTechnical Outlook:
The price has declined from 42,080. As long as it remains below this level, it is likely to continue its descent towards 41,950 and 41,770. If it falls further, it could reach 41,570.
For a bullish scenario, stabilization above 42,090 is necessary to target 42,190 and subsequently 42,300.
Key Levels:
Pivot Point: 42080
Resistance Levels: 42190, 42300, 42450
Support Levels: 41960, 41770, 41570
Trend Outlook:
Bearish while under 42080
Bullish above 42090
DOW JONES Short-term correction or invalidation?Dow Jones (DJI) has been trading within a Channel Up ever since the August 05 bottom and right now finds itself below the 4H MA50 (blue trend-line). This is because based on the Higher Highs sequence, the pattern has topped and is potentially looking for the new Higher Low.
As long as the 42400 Resistance is holding, we will be expecting a short-term correction towards the 4H MA200 (orange trend-line), with a projected Low around 41600. Note that it will be above the 0.5 Fibonacci retracement level, where the September 11 Higher Low was priced.
If the 42400 Resistance, which we call the invalidation level for shorts, breaks first then we will take the loss on the short and turn bullish instead. The last Higher High was priced marginally above the 1.236 Fibonacci level, so that will be our Target (43200).
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Dj updateI never seen traders follow winning trades n support them you know why?people's love challenges,my target.for dj 41700 but I won't stop you to start looking for buys early as am not in control of the market but good predictions
US30 SELL ANALYSIS RISING WEDGE Here on US30 price form rising wedge and likey to fall if it reach line 40977.0 then going for SHORT is needed with target profit of 39968.7 and 38612.8 . Use money management
DOW JONES Channel Up top. Sell signal.Dow Jones topped on its 6 month Channel Up, turning sideways for the past 2 weeks.
As long as the price trades inside the Channel, this is a sell signal
Trading Plan:
1. Sell on the current market price.
Targets:
1. 41150 (potential contact with the MA50 (1d) and inside the dashed Channel Up).
Tips:
1. There is a huge Bearish Divergence on the RSI (1d), similar to the one on Jan - March 2024.
Please like, follow and comment!!
Notes:
Past trading plan:
US30 Testtesting new Idea for us 30 liquidity test. With the recent months it continues to make new HH's so at this moment seeing where we could pull back
NEW IDEA FOR DOW JONES The Dow Jones index has an important support range in the range of 41947 and now due to the increase in the averages of the Alligator indicator, there is a possibility of price increase up to the resistance of 43703.
US30/DOW what to expect of entry levelTeam, we will wait for the US30/DOW to retest once it break below 42100
Once it reverse back toward 42106-42110 then we enter long with target as per photo
with STOP LOSS at 42067-62
target at 42168
target at 42226
Once it break above 42150, bring stop loss to BE
Buy More of US30!Here is an opportunity to continue riding the US30 Buys called here last week...
Now, you can add up more positions while you break even on the previous position (s).
The Dow Jones is currently facing significant resistanceThe Dow Jones is currently facing significant resistance. The price has broken above the upper Bollinger Band, and both RSI and MFI are indicating divergence. Based on this, I anticipate a price decline to key support levels
US30 View!!The Dow Jones Industrial Average
DJI
has been rising for four consecutive weeks, gaining a total of 4.5% for the period. The latest leg up arrived Friday when the US released its monster job figures for September — a mind-blowing 254,000 new hires, crushing expectations for 145,000. And that’s when the 30-stock Wall Street index climbed 0.8% to a fresh record closing high of 42,352.75 points.
The next big test is already looming for the Dow. Earnings season is here and one mainstay corner of the index is about to get spotlighted. Banks, big banks, are lining up to report their financial performance for the third quarter. This week markets will hear from household names JPMorgan
JPM
and Wells Fargo
WFC
. They’ll be joined by Procter & Gamble
PG
, among others.
Possibility of correction It is expected that the upward trend will end in the current resistance range and we will see the beginning of the downward trend. If the index crosses the resistance range, the continuation of the upward trend is likely
US30 H4 - Sell SignalUS30 H4
When the markets opened, we saw a large gap to the upside. Following another 30-60 minutes, what would have been our SL would have been knocked. That being said, we wait patiently for the markets to settle before then deciding how we are going to take out trades. We are still very much focussed on this same trading zone, hence the analysis remains the same.
I'll be looking for price to reject this 42,300 price again and test the underside for us to consider and measure entries. Lets see what unfolds, but this setup is still on the cards.
Weekly Analyses and Recap
Welcome traders,
Market Recap Sep 30th - Oct 4th
Last week price spent the majority of the time consolidating between 42,380.6 - 41,995.9 before breaking out to the downside at 41,885.8 liquidating any buyers from the support level with pending SLs below structure. This liquidity sweep was the final accumulation of buying pressure allow institutional traders to have their buy orders filled to take price up to the resistance level of the consolidation range.
From a fundamental perspective, NFP data came in hotter than expected showing exceptionally strong economic data causing a bullish reaction in equities. Previously strong data would cause a bearish reaction in equities as investors would take it as the Feds pausing rates for longer. However, strong data can sometimes boost investor confidence, leading to a bullish sentiment in equities. If economic indicators suggest robust growth, investors might be more willing to take on riskier assets like stocks.
🚨 October 7 -11 🚨
Moving froward, since price is currently at the resistance level of the consolidation range we can expect price to resume its downtrend. At market open today price gapped up which it is currently trying to fill. This gap up can be considered as a liquidity grab for any early sellers in the market with pending SLs above structure.
Will this be the final sweep before price falls? Not sure..
As it is the first day of the trading week, it is possible for price to later retest this area or even do a final liquidity sweep up to 42,479.1 before committing to taking out the lows.
Since price is at resistance, there are a lot more sell side liquidity than buy side liquidity to be filled. From an institutional trader perspective, a sell order was placed in order for price to breakout to 41,885.8 and instead of closing in drawdown price will return to the lows to that institutions can either close at breakeven or in profit. As always, major financial institutions are the one who control the market.
Higher TF analyses:
On the daily chart, we can see that price broke below the 23.0% fib level to signal the Daily LH. Historically price has shown to respect the fib level 38.2%, 50.0% and 61.8% as possible levels for retracement. Since price has broken through the 23.0% but has not reached the 38.2% level then we can expect price to resume its down trend to complete its retracement.
On the 23H chart, price has signalled its respective LH indicating that every other TF below it is currently at its highest point and so can expect some retracement for the bigger TF to signal their respective HL. On this chart we can also see bullish FVGs created from the strong buyer momentum as other key areas for price to retest. We also have a imbalance created when price gapped up at 41,621.9 which also aligns with the 38.2% fib level of volatility.
Therefore, for the rest of this week my bias is bearish for rice to come down and retest these levels.
US30/DOW - what do we plan to do for todayTeam, going long US30 now it a pretty risky trade.
if we are patient enough, we wait for the short position once it kicks in
If you want to go long, ensure tight stop loss is required.
will keep you all update during US market opening.
US30 TO NEW ATH OF $43,050 (UPDATE)US30 is up another 1% in profit since our update yesterday. Market is extremely bullish, but it is also very close to our final target of $43,050😍
If the weekly candle closes with a huge wick or shows any sign of bearish sentiment, I will look to close out my entire position & call it a wrap with our US30 investment! This has been a beautiful trade this past year & I hope you all made plenty of profits from this buy. I will let you know when I decide to close out this trade!
US30 TO NEW ATH OF $43,050 (2WK TF)🚀A friend of mine asked for me to analyse US30 as they were looking to add it into their investment portfolio, so I thought I'd share it for free with you all as well!
⭕️ Market Currently in Wave 5 (Impulse Wave).
⭕️ Negative Correlation to DXY, Which We're Bearish on Long Term.
⭕️ Last Rate Hike Expected by Federal Reserve, Which'll Push Up US30.
DJI index is bullishtraders can expect cautious optimism as the Federal Reserve is likely to implement a 25-basis-point rate cut in November, which should provide some support for equity markets. While the job market’s resilience is a positive sign, geopolitical risks and sector-specific issues, such as the airline and energy sectors, may introduce short-term volatility. The outlook for the S&P 500 remains mixed, with a slight bullish tilt driven by the prospects of lower rates and strong corporate earnings in key sectors.
INTRA DAY STRATEGY Possible scenario on US30 trade will be executed upon confirmation buying at marked zones & selling at marked level only upon confirmation with tight stop loss and targeting 100 to 150 pips
42385 level important will look for candle closure below that level
PVPSMCSHere we have US30. The analysis is based on a HTF which is the weekly that is Pro Impulsive. The MTF which is daily and has a Bullish Bos lastly the LTF for entries which had a internal CHoCH. Failure to break it will result in US30 continuing with the Bull momentum but if it breaks, US30 is likely to correct via MTF before continuing with the bull momentum.
DOW JONES QUATERLY ANALYSIS - Target JANUARY 2025Dow Jones looks bullish for the upcoming quarter and it can go upto 45111+ by 1st January 2025. Buy on dips setup will remain intact until Dow Jones breaches 39500 on the downside.
