US30 at Support Pre-FOMCUS30 (4H) Dow Jones Industrial at support. October high backed by the October high week close. Bulls need to hold this levels to remain constructive on this stretch.
WALLSTREETCFD trade ideas
Dow Jones rebound Dow Jones is probably bottom as my indicator on the 1hr timeframe show that. This movement compare to nasdaq is bullish. a shift of liquidity from nasdaq to Dow ahead of FOMC today?
Expecting windfall returns after another 2% down on DJI
As I analyze the charts of DJI and S&P300, a compelling narrative emerges. To establish a higher low, DJI needs to revisit its support level, approximately 2% lower from current levels, before the end of this month.
To gain more confidence in the overall market structure, I constructed an S&P300 index by selecting the top 300 volatile stocks from the S&P500, excluding the top 10 largest market capitalization stocks to minimize data skew.
The chart below displays two sets of candles: DJI (divided by 400 for scaling purposes) at the bottom and S&P300 at the top. Observing the S&P300 chart on a monthly timeframe reveals a notable pattern – most candles bottom out approximately 2% above their previous month's low.
Currently, the S&P300 price is still 4% above its previous month's low, indicating another 2% downturn is likely. Given the strong correlation between DJI and S&P300, it's reasonable to assume DJI will follow a similar path.
With this insight, traders can confidently prepare for potential trading opportunities, leveraging the anticipated 2% drop to their advantage.
# Key Takeaways:
- DJI needs to revisit its support level, approximately 2% lower from current levels, before the end of this month.
- S&P300 is likely to experience another 2% downturn based on its monthly chart pattern.
- Strong correlation between DJI and S&P300 suggests a similar price movement.
# Trading Strategy:
- Prepare to take trades at the anticipated support level, leveraging the expected 2% drop.
- Monitor the S&P300 chart for confirmation of the 2% downturn.
- Adjust trading strategies accordingly to optimize returns while minimizing risk.
Happy trading!!!
Checkout my other free indicator sangana beta table to see beta of stocks in a table all at once(works for S&P500 and Nifty 500).
Note: I am not a financial advisor. Do your own research before investing!!
Dow Jones (US 30) Pullback to Channel SupportChart Analysis:
The Dow Jones Industrial Average remains firmly within an ascending channel (green zone), with the current price nearing key channel support after a pullback.
1️⃣ Ascending Channel:
The price continues to respect the upward-sloping channel, which has been intact since mid-August. The lower boundary, near 43,450, is a critical support level to monitor.
2️⃣ Moving Averages:
50-day SMA (blue): The price is testing this level at 43,514, which aligns with the channel support, acting as confluence.
200-day SMA (red): Positioned at 40,705, reinforcing the broader bullish trend and serving as a long-term support zone.
3️⃣ Momentum Indicators:
RSI: Currently at 39.77, approaching oversold territory. A bounce from this level could signal renewed buying interest.
MACD: Bearish momentum persists, with the MACD line trending downward. However, traders may watch for signs of a crossover near support.
What to Watch:
A successful defense of the ascending channel support and 50-day SMA could provide a foundation for a rebound toward the channel's upper boundary.
If the support fails, the next significant area of interest would be the 42,000 level or the 200-day SMA near 40,705.
RSI movement and MACD signals will be key for confirming shifts in momentum.
The Dow remains within its bullish channel, but traders will be closely watching how price reacts to this critical support zone.
-MW
US30Market still in the bearish trend, if any reversal pattern occur at the support zone will go long with the main direction..
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Thank you!!!!!
US30/DOW - LONG OPPORTUNITYTeam, the DOW is about to breakout, good entry
PREPARE TO ENTER LONG US30/DOW at 43610-15
STOP LOSS AT 45555
TARGET 1 AT 43667-75 - take partial and bring stop loss to BE
TARGET 2 AT 43736-52
TARGET 3 AT 43825
US30 Still Bearish and will likely fall to 43300US30 failed to stay above the 43800 support Line causing price to be stalled between 43800 resistance area and 43500 support area. This is a very week support area and price will likely gravitate to the 43500 line by tomorrow so an intraday short is an idea to consider. Price is nicely falling within the trend channel and shows no immediate or on coming sign of recovering.
Short- Look to take a short to 43500 TP1 or 43300 TP2
Good Trading.
US30 in consolidation patter but will likely fall someUS30 is showing resilliance at support level 43700 with the entire day hovering on or around that support line. Price is currently within the trend line channel and and therefore would have to consolidate above that support area in order to maintain its levels. If price within the next 8 hours does not recover above the current support line it will likely fall some more. The next support level is at 43500. Look to short the US30 from a retest of the current support line to at least 43500. Make sure to set your TPs properly because it will be a fast fall to a rebound when it does.
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US30 Potential ShortKey Observations:
Fibonacci Retracement Levels:
The chart shows a retracement of the prior downward move, and the price is currently reacting near the 0.382 Fibonacci level at 43,828.18.
The retracement failed to break through the 50% level (44,062.83), indicating weak bullish momentum and reinforcing the overall bearish bias.
Further rejection below the 0.382 level could signal continuation to the 0.236 level (43,533.57).
Price Action & Support/Resistance:
Price is consolidating just above 43,770 and appears to be testing the lower levels. A breakdown from this support could send price to test 43,537.19, which is aligned with previous structure and the 0.236 Fibonacci level.
If price breaks 43,828 and finds support, a pushback toward 44,062 (50% retracement) could occur.
Bollinger Bands:
Price is currently trading near the lower Bollinger Band, suggesting potential short-term oversold conditions.
However, Bollinger Bands are widening, signaling increased volatility and a continuation of the current trend.
Relative Strength Index (RSI):
RSI is hovering below 40, indicating bearish momentum but not yet oversold.
Any further decline below 30 would suggest strong bearish continuation.
A minor divergence may form if price creates lower lows but RSI fails to follow, which could hint at a reversal.
MACD (Moving Average Convergence Divergence):
The MACD histogram remains below the zero line, confirming bearish momentum.
The signal line is trending downward, but a smaller histogram bar suggests bearish momentum might be slowing.
Key Levels to Watch:
Support Levels:
43,770 (Current support area).
43,533.57 (0.236 Fibonacci retracement, next major support).
Resistance Levels:
43,828.18 (0.382 Fibonacci retracement, immediate resistance).
44,062.83 (50% Fibonacci retracement, critical short-term resistance).
Potential Scenarios:
Bearish Continuation (Primary Bias):
If price breaks below 43,770 with strong momentum, the next target would be the 0.236 level at 43,533.57.
Indicators like the MACD and RSI support bearish continuation unless a divergence forms.
Relief Bounce (Secondary Scenario):
A bounce from 43,770 or the 0.382 Fibonacci level could see price retracing back to 44,062.83.
Traders should watch for bullish confirmation like RSI climbing above 40 and MACD showing convergence.
Recommendation:
Short Sellers: Monitor for a breakdown below 43,770 and target 43,533.57. Use stop-loss around 43,900 to limit risk.
Long Traders: Wait for a bullish confirmation (RSI divergence, MACD crossover, or a strong bullish candle) near support levels.
This setup favors a bearish continuation with the potential for short-term relief bounces.
Managing risk and waiting for confirmation signals is key and do not risk more than 1% of your account!
Us30Trading off the golden zone of 50% fib level , targeting buy side liquidity as first target which is the last recent high . We will monitor and see how it goes
Us30Trading off the golden zone of 50% fib level , targeting buy side liquidity as first target which is the last recent high . We will monitor and see how it goes
US30 Currently in consolidation. Bullish or Bearish Next? US30 has been consolidating since last night with no indication if it wants to go up or down. Price is currently sitting around the trend line and may break the trend line indicating it wants to rise but be mindful of the market makers and their desire to liquidate your funds. Wait for a clear entry point for a bullish move above the support at 44,000 or a clears short entry at 43777. Wait for a retest. If you take a trade now you me be in a consolidation mode for some time. Be patient and wait for a retest of the two zones mentioned.
Comment and let me know your thoughts.
US30 SellSelling due to my strategy NYSE will open at 2:30PM GMT hopefully we get a lovely push down
15.12.24The final week of 2024 will see key decisions from the Federal Reserve, Bank of Japan (BoJ), and Bank of England (BoE), likely impacting global markets.
Fed Meeting: A 25-basis point rate cut is expected, with attention on guidance for 2025. The market will watch for signs of slower cuts if inflation rises or unemployment increases.
BoJ Meeting: The BoJ is likely to hold rates steady, awaiting more data on wages and economic conditions.
BoE Meeting: The BoE is expected to keep rates at 4.75%, with rate cuts possibly delayed until February due to UK economic weakness.
Global PMI Data: Economic slowdown signals from Europe, the UK, and the U.S. suggest ongoing concerns about global growth.
Oil Prices: Prices have risen amid tighter supplies from Russia and Iran sanctions, with potential demand boosts from lower global interest rates.
Us30: After price fell below the previous weeks low, price kept on falling inidcating a weaker markets to inflation concerns and other factors. I will like to see if price can reach 42893.15
Ger40: Price struggled to traded out of previous weeks high and shows the strength being lost in the DAX. I'd still ike to see price break higher, till then at the start of the week I have price moving below 20366.4 first
US30 POSSIBLE SET UPUS30 has posted ATH post elections & post FOMC closing the weekly daily candle above the previous week and day which confirms that Market is strong bullish where we should be looking for buying only US30 has posted all time high at 44137 and low of the week was at 41642 with 50% level at 43216 which can act as valid buy zone if we look at lower time frame institutional order flow is at 43300 to 43470 probability of tapping this zone is possible which can act as buy zone targeting 1:3 we have inducement at 43651 which will act as SSL level in coming week. Fundamentally United Health Groups earning report is due on 15 Nov which will act as catalyst in move of US30. Manage your risk
Note: Only for educational purpose not an investment advise.
US30 ShortIf It retest and goes below 43775 and just retest we do have a solid sell entry.
Tp 43550 - 43575.
ST 43850
It gives us a good trade With RR of 3:1
Do not risk more than 1% of account.
US 30 Stuck at a support line around 43794 at Market Close. US30 has been resting on the support line at 43794 for the last 7 hours. We are currently in 2 shorts and hoping price breaks down past this support level to the second support below at 43360. If price does break the current support it will likely head down there to return in a week or two. Based on what's happening with the individual companies represented by the Dow Jones the sentiment is that US30 will continue to fall for now.
Take shorts as long as the market allows you to, but be mindful and prepared for a consolidation or market manipulation. Keep your risk low and follow the trend.
Let me know your thoughts!
US30 Continues to Fall. Likely to go to 43360 US30 Retested upper supports at 0500 and 0600 Hours. At that point we were looking for entries on an intraday short. Which we took. US30 is currently Falling and will likely hit 43369 area before looking to return bullish as the Dow Jones continues to show signs of weakness.
If you are already in a short you can hold it. If you want to get in on an entry price is quickly approaching a week support line at 43800. If it breaks this support, look for a retest for a clean entry.
If you are waiting for the Bullish trend we will be waiting at least 5 trading days at this point.
Let me know your thoughts!
US30 Buy Or Sell Depending of Price ActionKey Observations:
Downtrend and Fibonacci Retracement:
The chart is in a clear downtrend, indicated by lower highs and lower lows.
A Fibonacci retracement tool is applied to the recent downtrend. The price appears to have retraced to the 50% level (44,062.63) and faced resistance, failing to break above the 61.8% level (44,299.10).
Bollinger Bands:
The price is testing the lower Bollinger Band, which could indicate oversold conditions in the short term.
A potential bounce back to the mean (middle Bollinger Band) could occur unless there’s continued bearish momentum.
Key Levels:
Support Level: Around the 0.382 Fibonacci level (43,828.18), which is acting as a current support.
Resistance Zone: Between the 50% (44,062.63) and 61.8% (44,299.10) Fibonacci levels.
The price is also far from the major resistance level at 44,460.85.
RSI (Relative Strength Index):
RSI appears to be near the oversold region (below 30), suggesting a potential reversal or relief rally in the short term.
MACD:
The MACD histogram is showing bearish momentum, but the bars are becoming smaller, hinting at a possible loss of selling pressure.
Possible Scenarios:
Bullish Case (Relief Rally):
If the price holds above the 0.382 Fibonacci support level (43,828.18), it could bounce back to retest the middle Bollinger Band and possibly the 44,062.63 level.
A break above 44,062.63 could target the 61.8% level (44,299.10).
Bearish Case (Continuation):
If the price breaks below 43,828.18, further downside could target the next major support, likely below 43,700.
The continuation of bearish momentum is supported by the MACD still being below the signal line.
Recommendation:
Short-Term Traders:
Watch for a reaction at the current support level. If the RSI starts to rise and the price bounces off the Bollinger Band, a short-term buy may be possible.
Trend Traders:
Wait for confirmation of a break below the 0.382 level or a rejection at the 50% retracement to follow the downtrend.
Risk Management:
Use stop losses, especially near the Fibonacci levels, as they act as pivot zones. Do not risk more than 1% of your account per trade.
Incoming bullish continuation Dow Jones successfully dropped as previously anticipated. The sell move is fading bit by bit, and a bullish breakthrough maybe on the verge of occuring. A break of this bearish channel may lead to YM testing established highs, with continuation to create newer highs. Failure to buy and breakthrough this selling zone, may lead the indice to continue down due to the current bearish pressure.
US30 - Potential Short
Key Observations:
1. Fibonacci Levels:
- The chart displays a Fibonacci retracement with key levels:
- 0.5 (44,065) and 0.382 (43,828) are critical short-term support levels.
- The 0.618 level (44,302) appears to act as resistance.
2. Bollinger Bands:
- The price is near the lower Bollinger Band, which often suggests oversold conditions. However, this doesn't confirm a reversal unless supported by other indicators.
3. RSI:
-The RSI is approaching oversold levels (below 30), indicating potential buyer interest soon. However, the RSI has not yet diverged, suggesting momentum still favors the downside.
4. Trend:
-The overall trend is bearish, with lower highs and lower lows. The recent retracement to 44,302** and rejection indicates the continuation of selling pressure.
Recommendations:
Short-Selling Scenario (Preferred):
- Rationale: The trend remains bearish, and the rejection at 44,302 confirms resistance.
- Entry: Wait for price action near the 44,065level. If it breaks downward and retests, consider selling.
- Take Profit: Aim for the 0.382 level (43,828) or 0.236 level (43,534) as targets.
- Stop Loss: Set a stop above 44,302 to protect against a trend reversal.
Buying Scenario (Riskier):
- Rationale: If the price respects 43,828 or 43,534 and forms bullish candlestick patterns, you could consider a short-term buy for a retracement.
- Entry: Look for a reversal signal at these levels (e.g., hammer or bullish engulfing candle).
- Take Profit: Aim for a move toward 44,065 or 44,302.
- Stop Loss: Set a tight stop just below 43,534
Conclusion:
Currently, the trend is bearish, favoring a sell strategy unless strong reversal signals emerge at key support levels.
Please keep in mind, do not risk more than 1% of your account.
Please comment, like and share this idea. it will help a lot.
