D-US30
DOW JONES: Make or break at the top of the Triangle.Dow Jones rebounded on the 4H MA200 and the HL trendline of the Triangle pattern and turned bullish again on the 1D timeframe (RSI = 61.324, MACD = 179.870, ADX = 45.459). As the 4H MACD is on a Bullish Cross, we have a clear sequence to follow, bullish if it closes over the LH trendline (TP = 39,450) and bearish if it doesn't (TP = 38,700). The targets are the 1.5 Fibonacci extension and the HL trendline respectively. From a fractal point of view, the MACD looks much like the January 19th 2024 bullish breakout.
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Let the potential longs beginYesterdays structure...... US30s Monday created a BOS structure from 09:00 until Tuesdays 01:00 of the 4hr timeframe. I was able to setup up a buying position from the 1min and will see if it can trend until Wednesday/Thursday structure.
This can be an upcoming trend of the year
Ps: As a prop firm trader, I do not have a swing account but I can see it going long
Resistance overhead?The DJIA Index (US30) could rise towards an overlap resistance at 38,911.37 which has been identified as a pivot point. Could price potentially reverse around this level to drop lower?
Pivot: 38,911.37
Support: 38,494.85
Resistance: 39,294.29
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XAUUSD - GOLD 1hrSimple trading:
Fibb on impulse
We look to sell gold for a correction. This isn't a trend reversal, just a pull back. Let's take advantage of a potential sell.
Key support areas:
1. Daily support (grey line)
2. Fibb .382
3. Fibb .5
4. Fibb .618
SELL Confirmations:
1. No high higher
2. Weekly Res Confirmed
3. Triangle Break and retest
Potential bullish bounce?The DJIA Index (US30) could fall towards a pullback support at 38,151.50 which has been identified as a pivot point. Could price potentially reverse around this level to bounce higher?
Pivot: 38,151.50
Support: 37,093.60
Resistance: 39,303.36
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you should only trade with money you can afford to lose. Trading Forex and CFDs may not be suitable for all investors, so please ensure that you fully understand the risks involved and seek independent advice if necessary.
Disclaimer:
The above opinions given constitute general market commentary, and do not constitute the opinion or advice of IC Markets or any form of personal or investment advice.
Any opinions, news, research, analyses, prices, other information, or links to third-party sites contained on this website are provided on an "as-is" basis, are intended only to be informative, is not an advice nor a recommendation, nor research, or a record of our trading prices, or an offer of, or solicitation for a transaction in any financial instrument and thus should not be treated as such. The information provided does not involve any specific investment objectives, financial situation and needs of any specific person who may receive it. Please be aware, that past performance is not a reliable indicator of future performance and/or results. Past Performance or Forward-looking scenarios based upon the reasonable beliefs of the third-party provider are not a guarantee of future performance. Actual results may differ materially from those anticipated in forward-looking or past performance statements. IC Markets makes no representation or warranty and assumes no liability as to the accuracy or completeness of the information provided, nor any loss arising from any investment based on a recommendation, forecast or any information supplied by any third-party.
US30 START OF A BEARISH MELTDOWN?Short positions on US30 appear compelling this week. We've observed significant bearish momentum lately, leading to a shift in character towards the downside, hinting at a potential trend reversal. Despite not having breached major structural levels yet, two robust supply zones remain, from which we can expect a bearish response.
The slowdown in price movement suggests distribution on higher time frames and hints at an impending reversal. Moreover, there's considerable liquidity to the downside, attracting price action, potentially resulting in a sweep of those equal lows.
Confluences for US30 Sells are as follows:
- Price has changed character on the 4-hourly time frame to the downside.
- Lots if liquidity to the downside in the form of equal lows.
- Two good supply zones in which we can expect a major bearish reaction to take place.
- Price has been heavily bullish and its due for a retracement.
- On the higher time frame price has slowed down momentum, good sign for a reversal.
P.S. However, on the higher time frames, the price remains notably bullish, with equal highs recently established at the latest swing high. These highs represent significant liquidity points, and it wouldn't be surprising if the price retraces to take them out.
FOMC news this Wednesday, trade safe and have a great week!
Dowjones Potential DownsidesHey Traders, in the coming week we are monitoring US30 for a selling opportunity around 38860 zone, US30 is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 38860 support and resistance area.
We would like to add up to current bullish momentum on the US dollar, usually when the dollar is bullish that put some pressure on indices like Dowjones due to the negative correlation
Trade safe, Joe.
US30 H4 | Rising to resistanceUS30 is rising towards a potential breakout level and could breakthrough this level to climb higher.
Buy entry is at 38898.40 which is a potential breakout level, price could bounce off this level and rise to resistance.
Stop loss is at 38776.96 which is an overlap support that aligns closely with the 61.8% Fibonacci retracement level.
Take profit is at 39185.63 which is a swing-high resistance.
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US30 SELLSUS30 once again had come into the Main 4H & Daily supply zone where I expected rejections. Also 12.30 UK time we had critical new on USD.
I was targeting entry @39235.00 where I entered aggressively with sl@39320.00 (80pts) at 11.30 UK time. Price then came down and broke structure on both 30mins & 1h Once positive USD news was released but then spiked back up to 39247.00 as manipulation but was calm and held.
Aim is to take partial profits at TP
TP1: 39860.00 Tp2: 38500.00 TP3:38300.00
US30 TO NEW ATH OF $43,050 (UPDATE)🚀Remember this US30 analysis I posted back in July calling for a new all time high?👀 This analysis worked out to perfection! Market is now up 5,990 PIPS (18% growth) from our POI😍
Whoever invested into US30 when this analysis was posted, you should all be up now & running in deep profits as we have breached new all time high's!
EURUSD - Be Ready For The Final Wave ✈EURUSD has been recently moving in an uptrend. According to Elliott waves, an uptrend has 5 waves where we have 3 waves in the form of an impulse and two waves in the form of a correction. We are currently in wave 4 ( Correction ) and looking for wave 5 ( Impulse ).
LONG Entry:
Watch for a bounce-off Wave 1 structure that lines up with the 0.5 Fibonacci level and with the major uptrend.
- Stoploss: Below structure
- Target: -0.27 Fib level and channel resistance
- Invalidation: Break of structure and uptrend
Good Luck, and as always trade safe!
US30 Pair : US30 Dow Jones
Description :
Completed " 12345 " Impulsive Waves
RSI - Divergence
Break of Structure
Bullish Channel as an Corrective Pattern in Short Time Frame
Impulse Correction
US30 SELL Looking at US30 I was expecting price to reach main supply zone @39050.00 and start to show rejections as I believed the early sell offs were a build up of liquidity. So I was patiently waiting for price to tap into Liquidity and take out these early sellers.
At around 2.30 NYC open volume always comes in and saw price shoot up to 39080.00 where I manually entered sells after seeing price come into my entry range and also seeing a 1min bearish candle. So sell entry @39080.00 with sl@39145.00.
TP1: 38900.00 TP2: 38700.00 TP3:38500.00 TP4:38300.00
Short Idea on the DOW or US30I anticipate further downward pressure on prices, potentially breaking through previous lows. Please note that the chart provided is not intended as financial advice, but rather reflects my personal analysis and expectations. Following the recent CPI news, there was a deceptive upward movement, which I interpret as an opportunity for selling. With buying volume seemingly diminishing, I see potential opportunities for short positions. Wishing you the best in your trading endeavors.