At the present moment, Dow Jones is in a range. This was evident at the start of December with the false break reversal at the high and the trading back down to the other side of the range. I will be giving Dow the benefit of the doubt of being a range until further notice and look for a failed break of the downside for the return back up to the top of the...
On the Daily chart, I have marked each month by the vertical blue lines. The purple lines are the monthly opens. I will be looking for the low of Monday the 23rd to be taken and a couple of inside days before the breakout of Thursday's high. The three stacked highs at the end of November/beginning of December are easy targets to be taken. Also, the creeping trend...
My goal going forward into 2025 is to only trade the Parabolic Trend trades and to master them. They happen roughly 5-8 times per month. Just catching 1 of these per month is all I need. Using 3% risk per one of these setups can deliver 15-20% gains. The universal entry criteria is the 5 minute close back inside the 20sma. The timeframe for entries are either...
My gameplan going into the new year is to watch for the formation of the topping process into that rising wedge for the 20% correction back down into the monthly uptrend. After December 23' broke out and the whole of 2024, it will pullback to the 50% area of 37,000. This lines up nicely with the Long term Monthly trend and the November 2023 monthly candle....
This is my updated gameplan inside of this sideways consolidation. I am looking for a run of the lows down into July FOMC level for support. I don't expect price to break this level. Once price gets back down into the bottom of the range and starts buying, the next target will be at the top of the range and the break of the highs as a target.
Price is still on its way to mitigate the July FOMC level as I suspected a while back. I just got caught up in the short term and forgot about that prior post I made as a likely target. I was wondering why the July FOMC level hasn't been retested lately as the September FOMC level bounced off. It seems to be repeating the December 23 FOMC level where it makes a...
I am positioning myself to take part in the year-end rally and the December 18th FOMC. I can smell another 8% rally coming. I will see how price gets into the support zone and when it starts holding, I will get in. The stacked highs are the target. The triple top over 45,000. I have a feeling the market will close 2024 over the 45,000 level for headlines....
I made a similar post awhile back detailing how Dow Jones moves and uses FOMC. Now I have a little more update, it is even clearer. The purple highlighter is the FOMC release and the purple line is the price level it was released at. The November FOMC kickstarted the bull trend and since then, price has been defended from prior FOMC levels. Below I will...
After taking a few losses trying to buy pullbacks, I had to take another step back and reevaluate my analysis. What I am now seeing is that price is mean reverting around November's FOMC level and December's NFP was used as the start of the down move. Every single retracement this year has been roughly 3.5-4%. A 4% retracement will close the gap on the daily...
After my last idea did not work, I took a step back and seen what the market was doing. To me, this looks like a basing on the 50% level and a slowing down of price into 44,825 area. I believe NFP will be used as the catalyst to pump prices higher and into the breakout. One full expansion of this triangle is at 45,750. This is a level I found using other...
I am placing a limit order using my intraday account for 44,996 that I feel very confident on. The middle of the range is at 45,000 The point of control also is at 45,000 Because this is most likely a bull hammer weekly candle and its NFP week, I am expecting bullish trend days coming. Because Monday-Wednesday created the peak formation low under the weekly...
My gameplan going into the next day's NY session will be to watch the level 44,825 and see if/how price pulls into that level and how it reacts. If I see a little doji then I will go Long. The level I will watch on the upside is 45,095. I don't know if price will break that level or reject again temporarily. The weekly opening price of 45,050 is a prime target...
I have been going over average movements for awhile now and this is just a snippet of the last month. I have noticed there are four main movements. Small movements of 250 ticks, used in small pullbacks and retracements Medium movements of 375 ticks, used in slightly deeper pullbacks and retracements Large movements of 625 ticks, used in expansion moves, either...
Looking at the weekly chart, a very key reversal signal is forming. After the breakout in August, the market has performed three pauses and now we are on push 2 of the 1 2 3 engulfment pattern. This leads me to believe that the first week of December will be the 3 of the 1 2 3 pushes. If this is the case, then the second week should either be a doji or the...
Now that Monday and Tuesday have traded, I can have a better idea of what the market is doing. By allowing Monday (Opening Range) and Tuesday (Initial Balance) to trade, you can see the type of weekly template forming. By marking the opening price of the weekly candle in Cyan blue, you can better see if the week will be bearish, bullish or a doji based on how...
Because the Dow is accelerating in its trend and the fact that last week was a bullish hammer, it is no Suprise that this week opened with a 0.5% gap up and rally. I believe the rest of the week and the rest of the year will be extremely bullish with a target of 47,000 by year end. This will give 2024 a 20% gain for the year. It has been a very bumpy ride with...
November is showing to be a full-bodied bull candle and at all-time highs. The 30-year bull trend is now in acceleration phase and is on track to 159,000 by year end 2042. This week's bull candle signifies a continuation of the trend as the Election rally candle broke out of the high, the following week rested and then this week's candle continued. This would...
I am going to walk you through my thought process of what I think is the most likely weekly candle this week. I think this week's candle will be of a bullish nature. I believe Monday and Tuesday will be the low of the week, AKA the weekly wick before the expansions Wednesday, Thursday and Friday. Last week's candle was a pause/resting pullback week after the...