DIA trade ideas
DIADIA closed at 314.37. DIA's structure during the drop last week is the worst of any large index. DIA is likely to slow down this week as well. If DIA can bounce near this range 314-306, we can see DIA also form a double bottom. However, DIA is likely to have the slowest and poorest price action this week. I would avoid any swings or daytrades on DIA for now. Price action should be better and easier to capture on other indicies this week.
DIA 15 Min buyBroke the 15 min high so we go long..also larger pattern break is possible ..so double probability of making money
Where are we DIA?Where are we DIA? Here's a Mega Triangular Trend Channel MTTC2.0 (beta) set to 200SMA with 19 levels. And my tickerTracker MFI Oscillator set to 20 with SPY, VTI, QQQ, IWM & DIA.
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
DIADIA closed at 329.35. DIA looks the healthiest of the indicies, but it's still riding up the pitchfork trendline resistance. It's likely that DIA breaking out could signal a move up before other indicies. DIA analysis from last week still holds going into this next week. DIA has some more room to ~340, but likely can be a bit slower even if it does breakout.
DIA...Broke outBut its consoldating...now waiting for it to make its next move....till then we have to wait patiently
Progressing as ExpectedJust a quick update and going to update on DIA instead of SPY because I have kind of neglected posting anything about DIA despite day trading it almost daily.
So SPYDA (my power couple name for SPY and DIA) are progressing normally. We had some pullback today to retest some resistance and support on SPY, DIA broke below some very steep ascending support, but really nothing to panic about.
As far as I and math is concerned, everything is going okay. We did break down today below 411 on SPY, however, I was incorrect in asserting this as a pivotal statistical level because re-running the analysis, it actually doesn't change much of anything now, just prolongs the anticipated timeframe. Not sure what past Steve was seeing when he ran that analysis but oh well. So sorry about that, don't freak out! I do make mistakes sometimes.! haha
Anticipation for tomorrow is bullishness! Preliminary sentiment analyses on DIA are overtly positive provided DIA sees an open around where it closed today (328). IF DIA gaps down dramatically in the morning, this would be fantastic. Because, for whatever reason, the analysis thinks that a gap down SIGNIFICANTLY increases the likelihood of seeing bullishness. Inversely, if we see a gap up, the analysis thinks we will see a shift towards bearishness. So watch this closely if you are playing SPY or DIA (keep in mind, I am only drawing from sentiment analysis done on DIA and not SPY, however they complement each other).
There really is not much else to tell you. This is more to reassure you that nothing crazy is going on right now, we are fine, everything is fine (aside from society collapsing).
If you want to play DIA tomorrow, look for some support around 326 or 325. If DIA passes below 325 (technically a bearish break level HOWEVER I do not technically have bearish or bullish breaks for DIA because I have not developed a similar model for it as I use with SPY) then that's a sign of more bearishness than I would like to see.
If DIA respects 326 or 325 and moves upwards, we will be seeing 330 and maybe higher if we get some nice momentum :-).
That's it! Leave your questions, comments and critiques below!
Take care everyone!
DIADIA closed the week at 332.07. DIA continues to show similar, yet more intense price action than other indicies. DIA consolidated for less time, and started making move on Monday last week. DIA saw 5 consecutive green candles, but overall moved around the same as SPX. DIA has some more room to ~340, but is more likely to slow down this week.
DIADIA closed at 312.42. DIA's price action is slightly less bullish than the other indicies, implying weaker relative strength. It's possible that DIA can perform worse this week relative to other indicies. I would avoid trading DIA in this range, as it doesn't have much support if it breaks down more until 300.
Crab/Crooked WThis looks like a crooked W, and seems most of the time Ws are bearish, but not always. The second leg of the W pushed up to the .786 and the last leg of the W ends at the 1.618. Quite a run up on that last leg up but price turned back down at almost exactly the 1.618, so this does line up as a bearish crab. A level of support can help DIA out.
There is also a bullish crab and it appears as a crooked M. If one is familiar with harmonic patterns, it is possible to go long or short on the different legs of the pattern, be it a bearish harmonic pattern or a bullish one.
Gravestone Doji noted close to the top. The Gravestone Doji is very similar to the Shooting Star pattern and both reversal candlesticks appear at the top of uptrends and have longer upper shadows. The main difference is Shooting Star has a visible body whose close price should be ideally below the open. The gravestone doji has no true candle body and the open is virtually at the close. The top wick on both of these candles is much longer than the body. The candle today keeps changing from a Doji to a spinning top. Both are candles of indecision.
No recommendation
Iron Condor DIA 13 May 2022DIA 13 May 2022
The current implied volatility is at 24.22%/year
So that converted into daily is 1.52%
Since we are in need of the open price for the highest accuracy, I am going to take the current price
which is 320.6(you can also wait for the opening price and take +- 5 points from the open candle value)
So based on that our channel for today is going to be compressed with a probability chance of 85% within
TOP 325.5
BOT 315.5
From fundamental point, today we have no big volatility news that can impact our asset.
At the same time the current values are expected to be sidemarket/bullish.
At the same the weekly expected channel top and bot values for DIA were
TOP 335
BOT 314
DIA (Dow Jones ETF) - Weekly - Support, Resistance, TrendlinesDIA (Dow Jones ETF) - Weekly chart.
Support, Resistance, Trendlines for reference.
05/11/2022.
Dow Jones taps 250SMAI didn't even think it was a thing, but sure enough when I inputted 250SMA on the DIA chart, I see it bounced off $344.35 which is right next to 250SMA ($343.71). I think it's smart to hedge and hold or roll put protection while setting up long positions going through earnings season. Here's important levels on the 1 day chart:
52 week high = $369.50
52 week low = $298.59
SMA250 = $343.71
SMA200 = $349.78
SMA150 = $352.37
SMA100 = $354.20
SMA50 = $465.66
breakout = $380.17
R3 = $375.64
R2 = $371.12
R1 = $366.59
pivot = $362.06
S1 = $357.54
S2 = $353.01
S3 = $348.49
breakdown = $343.96
Do your own due diligence, your risk is 100% your responsibility. This is for educational and entertainment purposes only. You win some or you learn some. Consider being charitable with some of your profit to help humankind. Good luck and happy trading friends...
*3x lucky 7s of trading*
7pt Trading compass:
Price action, entry/exit
Volume average/direction
Trend, patterns, momentum
Newsworthy current events
Revenue
Earnings
Balance sheet
7 Common mistakes:
+5% portfolio trades, capital risk management
Beware of analyst's motives
Emotions & Opinions
FOMO : bad timing, the market is ruthless, be shrewd
Lack of planning & discipline
Forgetting restraint
Obdurate repetitive errors, no adaptation
7 Important tools:
Trading View app!, Brokerage UI
Accurate indicators & settings
Wide screen monitor/s
Trading log (pencil & graph paper)
Big, organized desk
Reading books, playing chess
Sorted watch-list
Checkout my indicators:
Fibonacci VIP - volume
Fibonacci MA7 - price
pi RSI - trend momentum
TTC - trend channel
AlertiT - notification
tickerTracker - MFI Oscillator
www.tradingview.com
How I Day Trade DIAPer request!
Let me know your questions below/comments/critiques below.
Thanks for watching!
DIADIA closed at 329.07. Overall DIA doesn't look too different from SPX. It put in a slightly better day with a green doji on Friday, but the higher timeframe look is similar. DIA does have more range to recover, and needs to test 340 before bullish intent can be restored. Underneath this level, DIA has historically weaker support, so it's more likely we can see DIA flush harder in the event that the market continues to drop.
DIA Short trade walk through and reviewDIA short trade walk through and review of entry and trade management used. Result was R:R 1.45 on the trade.
DIADIA closed the week at 329.69. Compared to the other major indicies, DIA looks the least bearish this week. DIA held up better than QQQ did as it's components that had ER posted slightly better results on average. DIA did not yet break beneath the previous local low at 328, nor the critical low at 322. It's likely to test both of these levels this week.
DIA over extended down, sellers in control. Risky short target.DIA is in down trend, and sellers are in control, but it looks over extended to me now. There is a risky short entry presented in the video.
DIA multi timeframe analysis. Short bias still in place.DIA is in a down trend, and that is the path of least resistance (as Brian Shannon likes to say). It's been on a fierce downtrend for the last few days, and looks likely to go sideways and/or test resistance before continuing down.
DIADIA closed at 338.27. DIA put in a double top after weak price action moving into the 351 area. DIA broke beneath support at 339, and can move to test lower quickly now. DIA had the most exaggerated move. Puts can work underneath 333.
Breaking down, Breaking apart (DIA)- breaking-down terminated the uptrend channel
- breaking-apart revived the heal-and-shoulder neckline and penetrated it.
- Lack of support could make these one-two punches fatal for DIA.
Head and Shoulders/Channel DownBearish diversion between price and RSI a while back. DIA has been unable to top the ATH since the divergence completed. Price can take a while to correct a divergence between price and RSI, but as a rule, the divergence will correct.
Many draw the bullish divergence on the valleys and a bearish divergence on the peaks.
The Pandemic bottom was 182.10. It seems like we have come a long way down from the high but price has not even hit the 38% mark of the long impulse wave up, and whether or not price hits these levels again remains to be seen. Look down, down and then a little further down and you will see the 38 and the 50% levels marked )o: The .618/62% and .886/89% levels are also marked. I did not realize how far this index had come until I tried to draw the fib levels. It was a stretch to say the least.
There are many possible support levels below and well below price. I got tired of drawing them! Anyway, when one support level is violated, I set an alert for the next level and re-evaluate.
Looks like an ugly top and price has penetrated the neckline slightly today with a bearish, Marubozu candle. At this moment, the top and bottom of the Marubozu is shaven which is very bearish. The neckline is support until it is broken with a confirmed downtrend. Price has broken this neckline before and recovered. Looks like an inverse head and shoulders formed and price came back up.
There is also a descending channel pattern, also known as a “falling channel” or “channel down“. A break out above the upper trendline generates a strong buy signal, while a break down below the lower trendline generates a strong sell signal.
The descending channel pattern is also known as a “falling channel” or “channel down“.
As long as prices remains within the descending channel , the downward trend in price can be expected to continue.
SPY and QQQ appear to be in a channel down. SPY was trading in a megaphone pattern but appears to have settled in to a channel as well. I have not looked at the Russell/IWM in detail as of yet, but just glanced at it and I see a bear flag that is correcting.
No recommendation, except be safe. There will be rallies up a long the way and it can be a good time to sell if you feel the urge. The market is unpredictable and it is a bad idea to try to forecast the future (o: We can only look back, down and all around and make an educated guess.
I am sure the economy is not helping the market right now. But the market has come a long way since the Covid bottom and maybe it is just "that time" )o:
