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
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.
Indices
DXY: Will the Fed hike rates and give the dollar a boost?Attention Traders,
In today's trading session, our focus is on DXY, where we see a potential buying opportunity around the 103.500 zone. DXY, after trading in a downtrend, appears to be gearing up for a breakout. Should we witness rallies surpassing the 103.500 resistance area, we'll be eyeing a retracement of this breakout towards higher levels.
Now, the big question on many traders' minds: Will the Fed hike rates and give the dollar a boost? Recent indications from the Federal Reserve suggest that rate cuts are off the table for the time being. Moreover, the United States is experiencing sustained inflationary pressure, as evidenced by both CPI and PPI figures consistently surpassing expectations. Additionally, the labor market remains robust. Considering all these factors collectively, the stage seems set for the US dollar to outperform its counterparts.
Stay sharp and trade wisely.
Best regards,
Joe
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.
Potential Trade Idea & Weekly Bias DiscussedThis week's outlook is heavily bearish, Markets are overbought, retail is investing in stocks now more than ever, and indices breaking ATH...A perfect time for the big players to profit off human fear, a little crash of 2% in currencies, a little over 4% in gold, and 3% in Indices, makes it perfect for human emotions to engage in and let it take over the psychology of retail investors.
The market's goal is terror and evil, it's always against you no matter what, and it uses all types of weapons in its reach to stop you from profiting, by attacking your weakest point of all, your emotional side...At the same time, rationality can't be effective, as sometimes for logical reasons one must step aside with a loss. Therefore, you must acknowledge the incentives within these markets and manage your risk accordingly.
I like to treat markets as an alive individual with their character and personalities, where have their traits and behaviors, and to predict individual actions you must study their incentives, and here's where I gain an edge...
Studying the market's main incentives goes back to breaking it into pieces, to understand the incentives of what makes the markets move, the main players in this game of organized chaos.
Markets in its current phase are showing weakness, a sign of retracement, a psychological thriller for those who bought the top and are expecting the markets to continue higher. Though the high amounts of volume buying these instruments make it a perfect opportunity for big money to sell off their funds without leaving a trace on the market's charts, moves are so subtle only a select few can recognize their traces.
I expect this Monday to be bullish, and the rest of the week bearish.
Markets will face a sell-off that will shake retail.
Welcome to the greatest show on earth, where when the lion is hungry, he eats.
Nasdaq Cash: Trading Plan For The Coming WeeksHere is my "Nasdaq Cash" trading idea for the weeks ahead.
As it is clear, Nasdaq has moved a huge amount and may continue this trend hence forth.
In H4 time frame there is an strong level of liquidity( at price 17320.59 ) after hunting the mitigation of decision level and touching the FVG , and doing so, the extreme flip in the positive range is remained untouched.
I Presume that the price will try to reach out the level of liquidity and touch the mentioned extreme flip in order to go higher. For doing so we may have a negative Break of Structure(BOS) at H4 time frame which I assume might be a temporary BOS to reach out the liquidity level.
Keep in mind that if the price reaches the extreme flip, we will need an H4 Reverse pattern( H4 Positive Mainpulation ) to occur in order to jump in Buy Position since the structure of H4 time frame may have been changed in that time.
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.
S&P 500 Daily Chart Analysis For Week of March 15, 2024Technical Analysis and Outlook:
Based on the chart analysis for March 8, it has been observed that the S&P 500 (Spooz) index has initiated a renewed downward trend from the completed Outer Index Rally 5170. The Spooz targets a newly created Mean Support level of 5096, which is anticipated to serve as a rebound point, enabling the index to retest the completed Outer Index Rally 5170. The subsequent important target for the index is the Outer Index Rally 5280. However, it is essential to note that there exists a possibility of the index experiencing a dip and resting at the Mean Support level of 5060.
S&P500 Breakout and Potential RetraceHey Traders, in today's trading session we are monitoring US500 for a selling opportunity around 5130 zone, US500 was trading in an uptrend and successfully managed to break it out. Currently is in a correction phase in which it is approaching the retrace area at 5130 support and resistance area.
Trade safe, Joe.
NASDAQ under the pressure of a strong DollarHey Traders, in today's trading session we are monitoring NAS100 for a selling opportunity around 18130 zone, NASDAQ is trading in a downtrend and currently is in a correction phase in which it is approaching the trend at 18130 support and resistance area.
Trade safe, Joe.
Nasdaq H4 | Potential bullish breakoutNasdaq (NAS100) is showing a strong bullish momentum and could make a continuation towards our take-profit target.
Entry: 18,245.20
Why we like it:
There is a strong bullish momentum (wait for 1-hour candle to close above 18,245.20 for breakout confirmation)
Stop Loss: 18,043.95
Why we like it:
There is a pullback support level
Take Profit: 18,760.85
Why we like it:
There is a resistance that aligns with the 161.8% Fibonacci extension level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
DAX H4 | Falling to pullback supportThe DAX (GER40) is falling towards a pullback support and could potentially bounce off this level to rise towards our take-profit target.
Entry: 17,658.75
Why we like it:
There is a pullback support that aligns with the 23.6% Fibonacci retracement level
Stop Loss: 17,451.85
Why we like it:
There is a pullback support that sits under the 38.2% Fibonacci retracement level
Take Profit: 18,255.53
Why we like it:
There is a resistance that aligns with the 61.8% Fibonacci projection level
Please be advised that the information presented on TradingView is provided to Vantage (‘Vantage Global Limited’, ‘we’) by a third-party provider (‘Everest Fortune Group’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by Everest Fortune Group.
Indices:🔴Is it the major market structure shift?🔴
Well As you can see, we can see the SMT here so we can expect a downtrend.
The first condition is, that we see the price close the candle body below the bullish FVG, only then can we expect the price to go lower to collect the sell-side liquidity.
After that, If the first condition occurs, we need the candle closure below the sell side liquidity, then the price activates the bearish breaker block and the breaker can act as a strong resistance and pull the price down.
💡Wait for the update!
🗓️10/03/2024
🔎 DYOR
💌It is my honor to share your comments with me💌
Unlocking Opportunities: UK100 Supply and Demand AnalysisHello Traders,
Critical Zone Breakout from Supply Zone Indicates Potential Upside Momentum, While Failure to Respect Signals Downside Pressure Ahead.
We have 2 Demand Zones, and A Supply Zone. If The Price Breaks The Supply Zone, Take Entry While Retesting OR Pullback of The Move Otherwise If It Respects The Supply Area Then Look For The Short Entries!
Please Note That The Only Purpose of The Information On This Page is Purely Educational.
I Would Welcome Your Participation And Support in the Form of Likes, Comments, And Follow us to Offer Some Encouragement.
Thank You.
F40 INDEXA clean uptrend move which I caught on F40. initially on the daily chart we saw an engulfing candle which closed right above the previous bear candle on Wednesday Feb 14th. This candlestick pattern emphasised that F40 was looking to continue the uptrend and potentially break 7700. This move was 360 pips in total. No indicators, just simple price action.
S&P 500 Daily Chart Analysis For Week of March 8, 2024Technical Analysis and Outlook:
According to the chart analysis for March 1, the S&P 500 (Spooz) index continued to perform exceptionally well, achieving our expectations again. The index bounced off the solid Mean Support level of 5060 on March 5 and reached our designated target of the Outer Index Rally at 5170. This was a significant achievement, as it triggered designated a pivotal squeeze aimed back to the Mean Support level of 5060. The index has the potential to visit the well-established Mean Support level of 4950, which has proven to be a very steady level in the past.
It is worth noting that once the pivotal pullback level is achieved, the index will continue its journey toward the outer index rally at 5280. This indicates that the index is on a steady upward trajectory and is expected to perform well in the near future, and traders and investors can expect positive investment returns.
NASDAQ: Pullback towards the Fed Rate day has started.Nasdaq flashed a strong bearish signal this week as the 1W RSI crossed under the MA trendline for the first time since November 7th 2023. While at it, the price hit the top of the 2023 Channel Up. The last timw we saw those taking place was on August 3rd 2023, a little after the HH top. A Channel Down may now emerge as the correcting wave to the 1D MA100 and possibly beyond. But for the time being, we want to time a Low on the Fed Rate Decision date on March 21st. Its bottom is our target (TP = 17,100), a potential contact with the 1D MA100, lower Support Zone.
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Major Indices: Macro SR Fibonacci SchematicsHere we have every major American indices in the world including the S&P-500, Dow Jones, Nasdaq, and the Russell 2000. This list excludes major foreign indices. For this idea, we have 2 boxes per indices. This is so we have room to include all schematics in the blueprint (chart). Let us define each indices and then we can talk about what makes each individual box up.
1. S&P-500 = (Standard and Poor's 500) Largest publicly traded companies in the US. (Benchmark for the overall US stock market and economy)
2. DJIA = (The Dow Jones Industrial Average) Tracks 30 large, publicly owned blue chip companies. Indicator of the health of the US economy, especially in the Industrial sector.
3. NASDAQ Composite = Heavily weighted towards the tech sector. Includes 3,000 stocks/all stocks listed on the Nasdaq stock exchange.
4. RUSSELL 2000 = Measures performance of 2,000 smaller-cap American companies. There's a distinct difference from the small cap measurement of the Russell and big caps like the S&P.
Now, each set of boxes are entirely different. There are no schematics in more than one box AT ALL. EVERY SINGLE BOX is 100% unique. Now that we know this lets examine...
1. Both S&P boxes include the following. 2 sets of schematics, a set of fib circle pairs, and a set of Fib Forks for EACH BOX.
2. Both DOW JONES chart have a schematic each. The 1st box has a set of fib circles but not the 2nd. The 2nd has a set of Fib Forks and so does the 1st.
3. Both NASDAQ boxes have a schematic each. Also, each has a set of Fib Spikes AND Fib Forks.
4. Both RUSSELL boxes have a schematic each. Each has sets of Fib Forks with the important ones highlighted in either black, yellow, or white to show the variety and how each different set reacts differently.
One must see that the different thickness and colors of separate sets of schematics are to distinguish them from its surroundings. My own forged Market Theory is that there is a BASE SET of Fib Extensions in the background which makes up our structure. Then, in the foreground, we have our Fib Spikes and then we lay over our Fib Forks. Finally, we have a totally finished, CLUSTERED, Schematic. SO, every single schematic that I make is all just individual schematics clustered together.
S&P500: Sell opportunity for at least 1 month.S&P500 is bullish on the 1D timeframe (RSI = 61.459, MACD = 50.390, ADX = 31.702) but the RSI has turned sideways for a long time which is the same pattern that led to the July 27th 2023 High. The index has had three major corrections inside the long term Channel Up, ranging from -8.16% to -10.64%. We expect the index to decline by at least -8.00% in the next 1 month and approach the 1D MA200 (TP = 4,750), which is intact since November 2nd 2023.
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