US30 Daily Analysis - 16 April 2024CHECK OUT MY BIO....
Knowledge Required to nail OANDA:US30USD
1, Good understanding of price Trend/directions
2, Absolute respect for Supports and Resistances
3, Knowledge of candle stick patterns
4, Discipline to use partial TP, SL
5, Discipline to wait for confirmations and only act when required
See the video for more.
D-US30
DJIA H4 | Strong bearish momentumDJIA (US30) is exhibiting strong bearish momentum and could potentially extend this current downtrend.
Sell entry is at 37,770.60 which is a potential breakout level ( wait for 1-hour candle to close below 37,770.62 for confirmation ).
Stop loss is at 38,100.00 which is a level that sits above a pullback resistance.
Take profit is at 37,175.41 which is a pullback support.
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DOW JONES: Close to our Target. Is it a buy after?Dow Jones is almost oversold on its 1D technical outlook (RSI = 31.431, MACD = -279.330, ADX = 39.462) and is approaching our TP = 37,300 that we called nearly one month ago. The target will be a direct hit at the middle of the long term Channel Up and approach the 0.382 Fibonacci. As long as the 1D MA200 supports, we will then reverse to buying, at least on the short term, expecting a rebound to the 0.786 Fib (TP = 39,350) like on January 16th 2023.
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US30 Daily Analysis - 15 April 2024FX:US30 Knowledge Required to nail these US30:
1, Good understanding of price Trend/directions
2, Absolute respect for Supports and Resistances
3, Knowledge of candle stick patterns
4, Discipline to use partial TP, SL
5, Discipline to wait for confirmations and only act when required
See the video for more.
Do you require support to make money trading forex? check my profile for more
US30 HEAD AND SHOULER??Simple trading - Head and shoulders
Us30 has broken the neck-line of the Head and shoulder pattern on the 4hr. US30 is bullish on the higher time frames so always be ready for a pullback to the upside. Looking at the daily chart to see if the price will retest previous support and turn resistance.
Due to the lack of bullish momentum on the smaller timeframes, I would NOT advise taking a buy trade to previous support as the market is making lower highs and lower lows. This clearly indicates that the bears are in control. At any moment the price could drop and you do not want to be caught in that.
Be patient and wait for the price to play out. Look to take a sell positions
in the short term at respectable levels
US30 BEARS ARE GAINING STRENGTH|SHORT
Hello,Friends!
The BB upper band is nearby so US30 is in the overbought territory. Thus, despite the uptrend on the 1W timeframe I think that we will see a bearish reaction from the resistance line above and a move down towards the target at around 33605.
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BTCUSD Update - 52k?Seem to be going perfectly as predicted. BTC is dropping, retesting Supports to regain its bullish momentum. For how long will BTC continue to drop?
For start, this is just the beginning. BTC has completed the 4hr M pattern. BTC has just broken under major SUPPORT. This support is also the neckline for the Head and shoulder pattern from the ATH. Waiting for a confirmation by a retest. If BTC rejects the Daily support at 63500, look for sell pressure to 52k.
Capitalizing on Correlation: Selling US30 with USD on the RiseTraders,
In today's trading session, our attention is drawn to US30, where we're closely watching for a potential selling opportunity around the 38800 zone. US30 is currently navigating a downtrend, with a correction phase underway as it nears the critical support and resistance area at 38800.
Adding depth to our analysis, it's crucial to consider the broader economic backdrop. Recent data releases, including the Consumer Price Index (CPI) and Non-Farm Payrolls (NFP), have underscored the strength of the US dollar. This robust economic performance has bolstered the USD's position, creating headwinds for US30.
Moreover, it's essential to acknowledge the negative correlation between the US dollar and US30. When the US dollar strengthens, it typically exerts downward pressure on US30 and other equities. This negative correlation arises from various factors, including changes in interest rates, capital flows, and investor sentiment.
As the US dollar gains strength, investors may shift their focus towards dollar-denominated assets, leading to capital outflows from equities like US30. Consequently, a strong dollar can weigh on US30's performance, exacerbating its downtrend and potentially presenting selling opportunities for traders.
Therefore, as we monitor US30 for a selling opportunity around the 38800 zone, it's essential to remain cognizant of the interplay between the US dollar's strength and US30's performance.
Trade cautiously,
Joe.
DJ : Capitalizing on CPI-induced DJ VolatilityThe recent volatility in the financial markets has left many investors on edge, particularly with the DJ turning red in response to the latest Consumer Prices Index (CPI) news. As prices dipped in the last session, signaling a possible start to a bearish trend, it's crucial for investors to stay vigilant and adaptable.
The CPI data for March revealed an unexpected acceleration, with a 0.4% increase compared to expectations of a 0.3% slowdown. Furthermore, the yearly rate surged to 3.5%, up from 3.2% in the previous month. These figures underscore the persistent pressure on prices, deviating from the market's anticipation of three rate cuts in 2024, slated to begin in June.
Amidst this uncertainty, it's imperative for investors to remain proactive and seek out opportunities amidst the market turbulence. While the prospect of a bearish turn may seem daunting, it also presents potential openings for savvy traders.
One strategy to capitalize on market downturns is to employ sell limit orders within the formation of a bearish channel. By strategically placing these orders, investors can position themselves to take advantage of potential pullbacks in prices. This approach requires careful analysis of market trends and patterns, but it can yield lucrative returns for those who are diligent and patient.
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DOW JONES Secret Cycles you didn't know existed!On this analysis we examine the Dow Jones index (DJI) from the longer term perspective of the 1M time-frame. A lot of market participants has started to get nervous because of this month's pull-back and this is the best way to keep a calm mindset and view the price action objectively. In order to see if the market has a legitimate reason to panic or not, the answer can be given by observing the index from a cyclical point of view.
To begin with, the 1M MA50 (blue trend-line) has been the absolute multi-year Support level (since October 2010 only two candle closings below it, March 2020 COVID flash crash and recently the September 2022 inflation bottom). The market deems every pull-back towards it, a buy opportunity with the lowest possible risk.
Since the bottom of the 2008-2009 Housing Crisis, the 1M RSI bottoms on Lower Lows help us classify the multi-month phases into Cycles. The duration of each Cycle since the 1st, has been pretty consistent (39 to 48 months so far).
When the index closes a 1M candle below the 1W MA50 (red trend-line), the correction towards the 1M MA50 is usually under way. Also there is a striking consistency on the growth of each Cycle. As you can see, with the exception of the first (naturally the most aggressive since it was the start of the recovery after a Bear Cycle), every Cycle sees gains within the range of +70% and +77%.
As a result assuming the new Cycle follows a similar pattern, we can expect a minimum Target of 48850 (+70% from Low) and a Cycle ending on December 2025 (39 months from previous Low). Technically the index should peak around the the start of 2025, entering a volatile period towards the end of the year. This is as close to a projection one can make on such a long-term horizon and with tons of fundamental risks involved.
Where do you think Dow Jones will top at?
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Dow Jones(US30):🔴Possible scenarios🔴(Details on caption)
Well, as you can see Dow Jones in the daily chart swept the liquidity and created a new all-time high, then had a bearish reaction and shiffed the market structure as well.
after that, the price had a retracement from a bullish FVG to a bearish breaker block and continued to the sell side.
For now, there are two different bearish scenarios which I follow the first one.
First scenario: The price created the buy side liquidity below the balance price range in the premium. We all know it is a high-probability scenario that can push the price lower. So in this scenario, we wait to move higher, grab the buy side liquidity, and look for a sell position inside the BPR on a lower time frame.
Second scenario: If the price is strongly bearish we can expect the price to move to sell-side liquidity from inversion which has already tapped in.
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🗓️07/04/2024
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US30 will start the bullish move to break 40,000 level**Monthly Chart**
Last month's candle closed bullish and created a new high at 39910.47 (slightly shy from 40000.00 round number - a new historical high). This month opened from the high of the previous high and paused at 40023.09 only to reject it and move lower. This suggests that the long-term trend might be over and we should start looking for the start of a downward trend move.
**Weekly Chart**
Last week candle closed as a bearish manipulated candle as there was a huge sell of around 40,000 level. This has provided a counter-trend trade for a bearish move. However, till now US30 has tried to break below the 38500 level but fails. In addition, given the FOMC announcement today, we will see how US30 will react to it. This might provide another push to the upside to break the 40,000 level once more and create a new high.
**Daily Chart**
The last daily candle closed as a “ Key reversal” as it sweeps the liquidity from the daily MC candles near the demand zone, this provides a strong trajectory that there will be another push to the upside to break 40,000 level. Today FOMC will create this momentum.
Big One Entered a big long on US30 here.
Price bottomed. Showed a strong buying action and closed above swing low resistance.
Price continuation showing strong bullish momentum and pattern to breakout of previous trend line to the upside, potential for reaching the 4h high.
Stop loss set below the Candle entered --> shown on chart.
Planning to move stop loss to breakeven as soon as price breaks above 39032.
A good point to have entered would have been when candles failed to close below 38709 and sa soon as the 30 minute candle pushed (from testing below that level) up to confirm the buyers.
US30DAILY
High tests and slowing down candles, therefore we should stay out and wait for the touch of the bottom of the wedge (38570)
4H
We still look like we are falling before and form of reversal. The trend has been bearish and is currently in a consolidation, leading us to expect an impulse.
1H
We still waiting for a breakout whether up or down.
15Min
Close your eyes and stay waiting
DOW JONES below the 1D MA50 after 5 months!Dow Jones (DJI) gave us an excellent sell entry following our last analysis (March 28, see chart below) as it got rejected and made a bearish reversal exactly where we expected it to:
Last Thursday it even broke below the 1D MA50 (red trend-line) for the first time in exactly 5 whole months (since November 03 2023)! This is a bearish break-out confirmation signal and we expect a new sell-off soon.
As you can see the former (dotted) Channel Down broke downwards and has given way to a (blue) Channel Down. The 4H MA50 (blue trend-line) has now been turned into Resistance with one confirmed rejection already (April 04).
The Channel Down has fairly symmetrical Bearish Legs so far, -2.36% and -2.20%. Assuming the new will be at a -2.20% minimum, we are expecting a Lower Low at 38200.
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Overlap resistance at 61.8% Fibonacci retracementDJIA (US30) could rise towards the pivot which has been identified as an overlap resistance. Could this index stall around this level before potentially reversing to drow lower towards the 1st support?
Pivot: 39,042.57
1st Support: 38,560.25
1st Resistance: 39,412.72
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NIKE - Just Buy It!Nike tends to have corrective phases every now and then. We are now seeing one of the biggest corrections to date. We could be correcting in excess of 50% which would put us in a great position to buy Nike for the longer term.
Nike is the world's largest supplier of athletic shoes and apparel and a major manufacturer of sports equipment, with revenue in excess of US$46 billion in its fiscal year 2022.
In other words, its very unlikely that Nike will go bust and so any dips should be seen as a buying opportunity.
Our first point of interest is the structure level at 80. Ideally we break below that in accordance Elliott Wave Theory. We want to see wave C go below wave B.
Our ideal buy zone is the 60 level where we have the -27 fib extension. Once we come towards that region, we'll be looking for any bullish price action indicating a reversal and the start of the next massive bullish leg. If we go even lower than 60, then it's more of a reason to buy and load up!
We're looking for targets of atleast 200% as first targets. This trade is one to hold for the long term.
What do you guys think?
Goodluck and as always, trade safe@