Uptrend Considering the behavior of the price in the range of 78.6%, it is expected that the upward trend will continue. Otherwise, the correction process will be possible up to the support range
DJ30 trade ideas
Buy US30 NowBuy US30 at current price... The market has broken price level 40662.41and currently retesting it for a further move towards the upside traders can buy till price target 🎯🐂🐂🐂
Weekly Analyses : Uptrend Continuations with bearish corrections18/08/24 - 23/08/24
Welcome to another weekly analyses idea.
US30 is an historically bullish instrument defined by HLs and HHs. On the daily TF a HL was signalled on Aug 15 at 38,402 after which price has been bullish signalling a Daily LH as the biggest TF with a type of High.
This Daily LH currently sits at the 78.6% retracment level which is often defined as a key correction zone. However, just because price is currently there does not guarantee that it will respect it. Here are a couple reasons which tells me the Daily LH will not respect the 78.6% retracement:
1. On the 4H TF, the previous week ended with a bullish engulfing candle which can be an indicator price will continue bullish at least for the next short term before any correction.
2. Bullish signs On the Daily TF
- The Daily Candle on Friday Aug 16th closed with a long lower wick indicating rejection from a level
of support. This rejection is usually an indicator that the next daily candle will also close
bullish.
- Once price resumes into its uptrend, it will recover the strong bearish candles incurred
during the sell period. The strong bearish candle formed on Aug 1st will need to be
recovered with bullish candles up to the opening of the daily bearish candle.
Therefore, I expect price to continue bullish at least for the short term.
Longterm objective: Ultimate TP - Daily HH at 41,222.2.
Short term objective: Daily LH TP - 41,131.6 just above the 88.0% retracement zone.
Once price gets to 41,131.6 above the 88.0% retracement zone I do expect some retracement on the 4H TF. Here is my reasoning why:
On the 23H TF, I have drawn a bearish trend line in the colour red which represents the point at which price has previously rejected off the line. The first rejection occurred on July 17 signalling at 23H HH, then on July 30th signalling a 23H LH. Using this trajectory I expect the third rejection to occur on the line at 41,131.6. As for how far this rejection or correction will go... that remains to be seen.
Don't hesitate to reach out to me with any questions about my analyses.
US30 Bearish Bias!US30 has almost reached
The supply cluster of the
Falling and horizontal levels
So a move down is to be
Expected towards the
Target of 39411.7
Dow jones Potential UpsidesHey Traders, in tomorrow's trading session we are monitoring US30 for a buying opportunity around 40050 zone, Dow Jones is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 40050 support and resistance area.
Trade safe, Joe.
DJI Will Fall! Short!
Take a look at our analysis for DJI.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is trading around a solid horizontal structure 40,668.09.
The above observations make me that the market will inevitably achieve 40,100.63 level.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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BLOOD ON WALLSTREETPrice closing below 40900 on Tuesday 21 August sets the stage for a quick decline in price. The cause of the shift decline is unclear but will be dreadful enough to break the headlines. We are looking at not less than a 38% decline since the bottom of October 2022.
DOW JONES INDEX│ US30 │ 19 – 23 August 2024- Daily timeframe
From the last analysis, we have established that the daily timeframe swing structure is bullish and bore fruits this past week. Price is sitting in an internal supply zone; this may lead to a temporary pause, which will allow us to add to our positions.
• Bullish bias
- Four-hour timeframe
Swing structure here is still bearish and we are sitting in a supply zone as well so both our higher timeframes may be facing some resistance.
• Bearish bias
- 15-minute timeframe
Swing structure is bullish, internal structure is bullish. Although we are sitting supply on both higher timeframes there is no greenlight for short positions. We will look for long positions until this timeframe switches bearish to facilitate a pullback on the higher timeframes.
• Bullish bias
How do I come to a bias conclusion?
I look at the swing structure; if it is bearish, I conclude a bearish bias
©Austin Palmer for FONOS Fx, 2024.
US30 SingalUS30 Analysis - Daily
In this analysis, we are anticipating the formation of a Head and Shoulders pattern. Based on this pattern:
Sell Entry Point: A sell signal has been triggered near the neckline and resistance area. If the neckline breaks downward, a significant bearish move is expected.
Buy Entry Point: If the price bounces off the identified support area below and fails to break down, a buy signal will be activated. In this scenario, the market could move towards higher targets.
Overall, we expect a continuation of the bearish move if the neckline is broken, but if not, a potential reversal to the upside is likely.
US30Currently US30 is in bearish territory, which is strong supply zone and trendline resistance.
Will the sellers attack this area ?
US30 4H ( Downward Movement )Equity Futures Mixed, ETFs Lower Pre-Bell as Earnings Season Winds Down
Technical Outlook:
Bullish Scenario:
For a bullish continuation, the price must stabilize above 40,650, targeting 40,780 as the next resistance level.
Bearish Scenario:
A sustained move below 40,470 will likely trigger a bearish trend, with potential declines towards 40,290 and 40,060.
Key Levels:
- Pivot Point: 40,470
- Resistance Levels: 40,650, 40,780, 40,975
- Support Levels: 40,270, 40,060, 39,790
Today's Expected Range:
The price is expected to fluctuate between the support at 40,060 and the resistance at 40,650.
Trend: Bearish below 40,470.
US30 ( TRADING BELOW RESISTANCE TRENDLINE ) ( 4H )US30
HELLO TRADERS
Tendency , the price is under bearish pressure , until trading below resistance trendline .
Turning Level: The price is currently trading below this level around 40,671 . As long as it remains stable and stays below this level, a drop toward the support level is likely . However, if the price breaks above this level and a 4-hour candle closes above it, an upward move toward the resistance level can be expected.
Resistance Level (1): around 41,016 , The price is currently below turning level . To reach this level, the price needs to break and close a four-hour candle above the turning level at 40,671. If the price reaches 41,016 , and stabilizes above it, it will likely attempt to reach resistance level (2) .
Resistance Level (2): When the price breaks through Resistance Level (1) and closes a 4-hour candle above it, this suggests it could reach around 41,348 . To confirm an uptrend, the price needs to reach this level before moving on to Resistance Level (3) at 41,718 .
Support Level (1): As long as the price remains below the turning level of 40,671, it suggests a drop towards 40,208 . If the price reaches this level and stabilizing below it, it will likely attempt to reach Support Level (2).
Support Level (2): When the price breaks through support level(1)and closes a 4-hour candle below it, this suggests it could reach around 39,932 . To confirm a downtrend , the price needs to reach this level before decline on to support Level (3 )at 39,606 .
Channel Trend: the trading rate within the ascending channel.
TARGET LEVEL :
RESISTANCE LEVEL : 41,016 ,41,348 , 41,718.
SUPPORT LEVEL : 40,208 , 39,932 , 39,606 .
Time Frame : 4H
US30 BUY SIGNAL TRENDLINE Here on US30 price keep moving in uptrend direction and is likely to keep moving and till it reaches a certain level of resistance so is expected to go LONG and targeting profits should be around level of 41392.0 . Use money Management
US30 Trade IdeaThe US30 is overextended. I'm looking for the retrace into the imbalance for a short. In the video I cover the entry level, TP and stoploss. Manage your risk well this is not financial advice.
Possibility uptrend The uptrend is expected to continue up to the specified resistance range.
If the support range is broken, a bearish trend is likely
DOW JONES (US30) - Potential downside move !!Hello traders!
‼️ This is my perspective on DOW JONES.
Technical analysis: Here we are in a bearish market structure from daily timeframe perspective, so I look for a short. Price filled the imbalance and could reject from trendline + bearish order block. If I see break of structure on lower timeframe, I will open short.
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US30 / DJ30 / DOWJONES Market Bearish Robbery PlanMy Dear Robbers & Traders,
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Dow Jones Residual RangesProbably this week, according to the previous weekly pinbar, we will have a temporary rise to the limits drawn in the chart, so that the previous price gaps are filled and we return to the downward path.
DJIA Back Above 40K - Record Highs in Sight?The Dow Jones Industrial Average is rallying again today after strong retail sales and jobless claims data alleviated recession concerns.
The 30-stock index has now re-established itself above the psychologically-significant 40K level, opening the door for a bullish continuation toward the record highs near 41,250 next.
As long as 40K holds, the technical bias in the index will remain to the topside.
-MW
Recent trade on US30 , using price action !My recent trade on US30 , using price action
Time framed used - 8hr
-i identified the double bottom reversal pattern.
-than waited for the break above the neck line of the pattern.
-once price broke above the level i than waited for a Morning star candlestick pattern to from
-once the morning star pattern fully formed , i entered at 9am est after the close of the morning star.
US30: Bullish Channel Reversal at Key Resistance?
My Analysis:
The US30 is currently exhibiting a bullish bias, forming a rising channel since April 18th. Recently, the price tested the lower boundary of this channel around August 5th but failed to break down into a bearish trend, suggesting that the move was likely a correction. This correction appears to have been a temporary pullback, with the price now climbing back towards the upper boundary of the channel.
Given the current structure, there's a possibility that this bullish trend is short-term. A key area to watch is the 0.786 Fibonacci retracement level, which could serve as a significant resistance point. Additionally, the RSI is indicating overbought conditions, suggesting that the bullish momentum may be losing steam.
If the price reverses from the 0.786 level, it could signal the start of a bearish reversal. However, it's essential to wait for confirmation before taking a position. Keep an eye on key support and resistance levels as well as momentum indica tors to validate the next move.
Dow jones continues to rise?According to the resistance in the range of 40288
In case of failure, we can expect this index to rise to the range of 40489 and in case of strength, to 40793.
Otherwise, we can expect a rejection from the resistance area and a fall to the range of 39850
