Short term correction downdside toward support 11600$Correction on weekly base chart towards support levels 12000$ and 11800$ and 11600$.
Price HIT ALL-TIME HIGH and weekly base chart under pressure
GOOD LUCK AND LIKE AND COMMENTS PLEASE
Djia
DIJA/USA30 TradeHello guys, I haven't published anything in a while but im back at it again.
I have been looking for a few charts to find a nice short term trade and I wish to help you guys understand my strategy
so that you may use it yourself in future trades.
My win-rate with my strategy is roughly between 75-90%, and opposed to the hacks making youtube videos or selling
trading signals, I am not lying, nor am I trying to gain money from you so there is no conflict of interest.
As you see I am using a divergence strategy, it's my favourite because it will save you from taking bad trades on
breakouts or doing stupid things like buying/selling where the market is reversing.
I would highly advise anyone going into trading to learn how to spot divergences, it can appear in multiple
indicators but my go-to is the RSI as I feel like it shows itself more clearly, but this is a matter of preference.
The DJIA is on a clear uptrend now as you can see in the daily chart, and is currently in a pullback
which was also warned by the bearish divergence on the resistance line going across the past few peeks.
It then created a bullish divergence close to the support line which is where I made my entry.
Due to having to log back into my trading account I did not manage to get in when I wanted but my price is
around 30.025, which is still alright.
I would advise everyone to only take trades in the direction of the trend, of course with divergence you can
trade both ways, but your win/loss ratio will likely decrease.
My TP stands currently around 30.250, giving me a gain of little under 1%, however my leverage trough
CFDs are 1:30 meaning my total potential profit will be around 30%. However I would not recommend using leverage over
1:5 or 1:10 if you are not experienced in the market, as that 30% win could easily be a 15% loss depending on your
risk management.
DOWJONES expect this sell off Hi traders:
Similar like NAS and SPX, I am expect the sell on the indices to happen very soon.
Price as we see is getting squeezed and corrected in the latest price action.
Its unlikely we can continue see price behave this way without the impulsive phrase to come in.
The key is to wait for confirmation breakout from the LTF, and look for continuation corrections to give you the best R:R.
Thank you
UDOW (leveraged product) used to Trade Sentiment of DJIAI use UDOW when I'm bullish on the DJIA, which I am.
Yes, a leveraged product which inherits more RISK.
This is not investment advise.
A picture perfect ascending channel has formed.
(blue lines)
Start trimming positions at UDOW 104/share.
No need to short, trust start trimming.
BUY back more UDOW at bottom of blue channel,
likely around 84, at orange line of support convergence.
- Status Date: Dec 03, 2020
- Stay cool, stay humble, stay safe.
- Cryptmando
Restraint at the highs📌 SPX has had its advance cut off; an attempt to cap it from the reckless advance allows the possibility of a panic blow which is decisive and impulsive in such situations, namely the invasion towards the pivot.
This idea illustrates the stratagem of a major high against a 'positive' news flow.
Since the Vol expansion is necessary for the defence of the highs, an exchange at 21/22 is the way we defend. You should memorise this move of forcing our opponent to make up their mind, after clearing the positivity newsflow around vaccine and etc we are going to have 'diversion' introduced. This should be considered playing against, contested elections and uncomfortable positioning from stimulus expectations leaves the entire board looking vulnerable.
Thanks as usual for keeping the feedback coming 👍 or 👎
BOING-CO Daily Stock Chart!The daily chart pattern and Elliott wave possible count may suggest an uptick to
the upper trend line then a downtrend may resume.
𝗗𝗼𝘄 𝗨𝗽𝗱𝗮𝘁𝗲: $YM_F Daily. 🎅🏼📈 into Year End?Held support area ~$26K and channel broke out to new ATH. Over $30K and will likely see a 🎅🏼📈 into year end
$DJI $DIA $SPX $SPY $ES_F $NDX $QQQ $NQ_F $VIX #DowJones #ElliottWave #Trading #Stocks
DJI - Comparing Today's Market vs September 1929Comparing similarities between today's Dow Jones vs. 1929 boom & crash.
Looking at 1929, there was a similar, but shorter-term double top prior to the crash, but instead of crashing after an apparent double top, we blew upwards massively first and then crashed.
S&P500 Saw Another Re-test TodayThe Index started to selling off again heading into the afternoon session. Price came close to this week's low made on Monday, but it held. Now price is trading almost unchanged for the day, down -.09%.
In the mid-term, as long as the price holds above the trendline, the S&P500 is looking bullish. From a swing trader point of view, the index will not look bearish until it consolidates below 3500. The keyword here is to consolidate! This market has seen a lot of false breakouts whether it's a bullish or a bearish move.
DOW JONES The RSI shows extension to this rally. 30500 eyed.My focus on DJIA is on the 1D time-frame where the RSI is approaching the 77.000 Resistance. This is a 5 month old trend-line and it appears that with all the positive fundamentals involved, the rally can be extended until this level is tested.
An even more interesting find is that every Top since the March meltdown, is on (or near) the -0.382 Fibonacci extension of the previous. That was spot on for the June 09 Top and the September 02 Top. This time the -0.382 Fib is at 31000.
Does it make sense to target 30500?
Recent DOW JONES signal:
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DOW 30k! 💨After the election results, the Dow jumped to new record highs on Monday, marking its high just shy of the 30k milestone. Our primary expectation is a breach of the 30k mark and a continuation of wave iii in orange. To confirm the outbreak, the Dow must break above the 30k mark. Should the bears send the market on a detour, and the support at 28781 is broken, we expect the further downward movement towards the next support line at 27648. One way to play the current scenario is to place entry orders above and below the mentioned decision levels. The upcoming days will be filled with suspension!
XAUThis seems likely guys. Full disclosure I'm short the miners so I have some bias. But chances of gold breaking up past ATHs without another 3T stimulus package until Jan 2021 seems very unlikely IMO.
10 yr noteThis is a pretty big bear div on the stochastic rsi on the daily TF. So this is a HTF div that continued down all say while bond yields went up.
Something is coming and its a bear.
PYPL Still Above Major Support LevelsPaypal looking bullish into the election. Price is still trading above some major support levels at 171.00 & 164.00 respectively. Look to buy into major support levels as risk/reward becomes very attractive. If the price manages to consolidate below 162.00 cut losses quickly. Any consolidation below 162.00 will be considered very bearish.
Stock Indices overview ahead of US elections $SPX $NASDAQAll is ready for a downside breakout but we could wait for it after the elections in USA not before. Watch the video technical analysis of the most important Indices $DJIA $SPX $NASDAQ
DJIA - double top in progressThe DJIA index after the previous slump has retraced back to the bearish gap from February. The gap seems to be a strong area of resistance which has stopped DJIA rally twice.
As a consequence, we may expect a potential double top pattern to be formed. So if the 26536 low is broken we could expect a further downward movement toward the textbook target located at 24191. Near that level, to 50% Fibo retracement is also located.
________
Daniel Kostecki, Chief Analyst Conotoxia Ltd.
Materials, analysis and opinions contained, referenced or provided herein are intended solely for informational and educational purposes. Personal opinion of the author does not represent and should not be constructed as a statement or an investment advice made by Conotoxia Ltd. All indiscriminate reliance on illustrative or informational materials may lead to losses. Past performance is not a reliable indicator of future results.
81% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work and whether you can afford to take the high risk of losing your money.
Riding on the downfall of 900 points fall in DJIAFor those who have been following me for a while, you would be able to spot this selling opportunity last night.
I expect the gap to be filled up before we see more selling resume and revisit 26,724 area.
Please note that a rebound is possible after the gap area is filled up so watch for bullish or bearish signal before you take your next action. Sometimes, we let our initial wins and become a little over confident.
A look at the Day chart would tell you that the main trend line is still super bullish so this is a short term sell ONLY.
Those who are not comfortable shorting and if you have not shorted yesterday, please stay on the sideline , watch my updates for the next long opportunity.
According to CNBC sources -Strategist blamed the selling on the surge in coronavirus cases, election uncertainty and the fact that Congress could not agree on stimulus spending.
Now, like I said before, news are meant to be sensational and most of the time negative. Trend trading focus on the chart and one need not be too bothered with the news.
ridethepig | SPX into elections and beyond📍 SPX - into the elections and beyond
This waterfall is a demonstration of how and where a decline in confidence on the risk front should be punished.
The lust to expand equities higher is rather less here than one might suspect at first look. With the unsurprising hurdle of a contested election in US, buyers are threatened by an obstruction in democracy and Schwab transferring his influence across the Atlantic.
The only valid plan here is to look for sells and be prepared for a waterfall into November. Sharp speculators are not buying at these levels and looking to set in motion a new economic cycle (yet), first we must finish the correction.
