YM Short trade 10/24/2024YM is in a downtrend in 4hr chart and the weakest market among all equities. Price is testing 4hr 200EMA. Placed a short position in SZ above MA. Risk= $250. Target= 1:1.1.
YM1! trade ideas
Dow Jones (YMZ2024) - S&P 500 & Nasdaq DivergenceWhen compared with ES and NQ, it is evident that there is a big divergence between the three and Dow Jones, with 5 consecutive bearish days has made it clear that it is frontrunning the trio with bearish sentiment.
Challenging find a high probability draw on liquidity but i like the looks of the volume imbalances created this week being filled next week.
YM 15 min bearish divergence - Sell market15 min bearish divergence
Sell market at 42720
SL above the highs
TP based on risk taken
1:1 RR Trade
Average Range Levels + OHLC Statistical Mapping Short SetupMy bias for today was bearish.
My Bearish Model:
Entry: -Manipulation
Stop-Loss: 1/3ADR+
Take-Profit: -Distribution
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S&P500, NASDAQ, & DOW JONES Weekly Outlook Oct 21The 3 Indices are in position to move higher. I am looking for buys setups, as my bias is bullish. My first targets are the PWHs, and potentially ATHs.
I've included some notes on how I project bullish targets above ATH's. Tell me what you think of it in the comments section.
Check the comments section below for updates regarding this analysis throughout the week.
Enjoy!
May profits be upon you.
Leave any questions or comments in the comment section.
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Thank you so much!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
Dow Jones (YMZ2024) - Is This A Healthy Bullish Rally? Friday printed the highs @ $53,581 with signs of continuation the upside possible due to it being the election year.
Dow is being used a barometer against ES and NQ so I will be evaluating the trio to see which one will be the frontrunner.
WEEKLY FOREX FORECAST OCT. 14-18th: BUY THE DOW? YES!The DOW looks to have supporting structure for higher prices. The bullish momentum is there, and Friday's close put that on display.
There is some potential for a limited pullback, though. But I would view it as an opportunity to get a better price on a possible long position.
What are your thoughts....?
Check the comments section below for updates regarding this analysis throughout the week.
Enjoy!
May profits be upon you.
Leave any questions or comments in the comment section.
I appreciate any feedback from my viewers!
Like and/or subscribe if you want more accurate analysis.
Thank you so much!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
YM1! evening updateAnalysis of YM1!.
This count sees price in wave ((5)) of (v), with wave (v) starting at October 2022 low.
From 5 August 2024 low, count in red is less bullish, count in green is more bullish.
If count in red is correct, then 5 must be shorter than 3 (as 3 was shorter than 1), and price will not go above resistance at 45062.
If count in green is correct, price would be in wave 3 of (3) of ((5)) and extend above 45062.
Regardless of whether green or red is correct, each ends primary wave (v), and if median line of pitchfork cannot be tagged, it suggests that price will revisit October 2022 lows.
As price gets closer to 45062, reward/risk for YM1! short off that resistance improves.
Dow Jones (YMZ2024) - $43,000; Where Do We Go From HereHealthy bullish movement to the upside.
Due to uncharted territories, i will be sitting on my hands and updating you guys if major movements occur.
Elliott Wave Suggests Dow Futures (YM) Will Break to New All-TimShort Term Elliott Wave View in Dow Futures (YM) suggests rally to 43005 ended wave 3. Pullback in wave 4 unfolded as a zigzag Elliott Wave structure. Down from wave 3, wave ((a)) ended at 42245. Rally in wave ((b)) unfolded as expanded flat Elliott Wave structure. Up from wave ((a)), wave (a) ended at 42673 and dips in wave (b) ended at 42142. Wave (c) higher ended at 42663 which completed wave ((b)) in higher degree. The Index then extended lower in wave ((c)) towards 42093 which completed wave 4 in higher degree.
Index has turned higher in wave 5. However, it still needs to break above wave 3 peak at 43005 to rule out any double correction. Up from wave 4, wave (i) ended at 42427 and dips in wave (ii) ended at 42254. Wave (iii) higher ended at 42805 and pullback in wave (iv) ended at 42656. Expect wave (v) to end soon which should complete wave ((i)) in higher degree. Afterwards, it should pullback in wave ((ii)) to correct cycle from 10.8.2024 low before it extends higher. Near term, as far as pivot at 42092 low stays intact, expect pullback to find support in 3, 7, or 11 swing for further upside.
WEEKLY FOREX FORECAST SEPT 7-11th: SP500, NASDAQ, DOW JONESThe 3 Indices are in position to move higher. I am looking for long setups only, as my bias is bullish. My targets are the PWHs, and potentially ATHs.
My bias changes with a break below the Weekly FVGs.
Check the comments section below for updates regarding this analysis throughout the week.
Enjoy!
May profits be upon you.
Leave any questions or comments in the comment section.
I appreciate any feedback from my viewers!
Like and/or subscribe if you want more accurate analysis.
Thank you so much!
Disclaimer:
I do not provide personal investment advice and I am not a qualified licensed investment advisor.
All information found here, including any ideas, opinions, views, predictions, forecasts, commentaries, suggestions, expressed or implied herein, are for informational, entertainment or educational purposes only and should not be construed as personal investment advice. While the information provided is believed to be accurate, it may include errors or inaccuracies.
I will not and cannot be held liable for any actions you take as a result of anything you read here.
Conduct your own due diligence, or consult a licensed financial advisor or broker before making any and all investment decisions. Any investments, trades, speculations, or decisions made on the basis of any information found on this channel, expressed or implied herein, are committed at your own risk, financial or otherwise.
Dow Jones (YMZ2024) - King Of The Hill Run Out Of Steam? Once the top doug but not suffering to the fate of rangebound price action, violating daily highs and lows but not really going anywhere.
You know what this means right...?
The market's being held for an event that will create a plausible reason to reprice Dow Jones either higher or lower.
My moneys on sellside, especially if we continue to see risk off conditions for the Dollar Index
September FOMC Support LevelsThe September FOMC 8 Hour candle and its 7 different price levels is what determines the support levels.
I made an indepth post about ALL FOMC's and how they relate to support and resistances.
The 7 prices of this candle are as follows:
1. The high of the candle
The high of the candle is being used as a mean reversion and price is trading back and forth around the high.
Friday's NFP day used this price as both support AND mean reversion.
Thursday used both the top 1/3 and the high price to form support and resistance zones
Wednesday used the high price all day as a mean reversion trading around this price with the last two hours of the day using it as support.
Tuesday also used it as mean reversion trading around this price and using it as support and resistance
Monday used it as support twice and also used the top 1/3 as major support.
2. The top 1/3 of the candle
The top 1/3 of the candle is being used as major support
3. The Open of the 8 hour candle
The open of a FOMC candle is of great significance. It offers the greatest support levels.
Notice on the day itself that the open of this 8 hour candle that the FOMC spike candle DID NOT break the opening price? It did eventually at the end of the day but swiftly recovered.
The July FOMC's open price was used as major support and resistance here as well.
4. The close of the 8 hour candle
The close of the candle was also used as support the following day for the rip higher.
Dow Jones FOMC Analysis As It Relates To Support/ResistancesI have noticed that price action has been revolving around each FOMC.
The Blue circles are each FOMC Wednesday's
The Purple Lines indicate the opening price of that 8 Hour Candle
Each FOMC is connected to each other in price.
The 8 hour candle on the FOMC is used with all 4 prices:
The open
The high
The low
The close
Starting with December 2023:
It opened and proceeded to form a fat bullish candle. The high and the close PLUS the top 1/3 of that candle was used as support for the next 30 days, with the top 1/3 used as the bounce to new highs.
January 2024:
This FOMC was bearish and the opening price of this candle was then used as a mean reversion that price was oscillating around for the next 21 days in a range. Price went to new highs and then used the opening price to find support and bounced right at the same time the next FOMC was going to be released.
March 2024:
This one I am not sure about. It made the same pattern as the December FOMC but was traded through. Price eventually returned all the way down to where at? Almost exactly at the opening price of the December FOMC.
The March FOMC was used as support for the May 10-13th pullback AND resistance for the June 24-July 08 Range.
The September low on the 11th was coincidently CPI and it pulled back ALMOST to the exact price of the March FOMC's opening price.
May 2024:
The opening price of this candle is exactly the price of the high of the December FOMC's candle. The closing price of this candle was used as the support for the May 30th's bounce and the low of August 5th after that nasty sell off. A repeating pattern is price always returns back to a prior FOMC candle but NEVER trades below it. Price is always defended to the last tick. This happened 4 times this year.
June 2024:
This FOMC candle opened up at the EXACT price that the January FOMC candle did. Interesting. The June candle was then used as support for the June 24- July 08 range. It was also used as support and resistance after the August sell off when forming the bottom.
July 2024:
This FOMC candle's high was the exact price of the most recent September's low was. Interesting. I believe the July FOMC was used as a catalyst to sell off to take prices back down to the May FOMC as intended.
September 2024:
Finally, we reach our most current FOMC that has passed. The high of that candle has been performing the same as the January FOMC candle in that it is being a mean reversion and price is trading around that median price.
If the pattern is to be continued where upon they are defending higher and higher FOMC prices, then the last two to be defended are the July and September FOMC prices. That means that if they are defending these prices that price CANNOT go below 40,300 and that the CPI September 11th Low IS the Low.
Dow Support Zone 42,000-42,075 Bounce TRGT 43,725I am anticipating a bounce off of support from the 42,000 area before completing the one full range expansion to 43,725 price level.
The last 10 days or so, price has been revolving around the HIGH of FOMC of 42,400
It has found support around the mid point of the Thursday the 19th's 8 hour candle and the high of Tuesday the 17th's high.
Between 42,250-42,300 support
FOMC HIGH as mean reversion of price
Pullback into the FOMC range and find support on 42,000
When to expect a trend or when to expect a range sessionWhat I look for on the open to help define whether I expect a range based open or session...or a trend based trading session. By using an Anchor chart and a trading chart, I am able to define the price action with regards to momentum and price direction. From there, it is then a process of waiting for the setups to develop.
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Thursday Sell Idea Wait For Doji Pullback Measured MoveWait for a pullback into the blue and purple lines and a stop run for the measured move down to the dashed black line for a 220 point trade short.
3 Pushes Into Yesterday's Low For a Rally Back Up To Weekly OpenThe weekly open in purple is above the stops placed today in this down move. I am going to look for the three pushes into the red line of yesterday's low for the rally back up to the weekly open.
Dow Jones Range Bound Sell Into Peak Formation 13:1 TradeI will be placing my sell order at the Peak Formation High at 42,845 with a 50 tick stop.
I will be targeting the low on Wednesday September 25th at 42,200.
Because Dow is in a range consolidation, I will buy the lows near 42,000 and sell the highs near 43,000. I don't know when the trade will trigger but I will leave it there until it triggers with an OCO order.
Any time price pulls back into a peak formation, whether it be low or high, prices tend to hold and reverse. The fact that you have two lows suspended above support from FOMC is a clue they will get ran. Also, the fact that Friday's parabolic long trade already got taken out is a clue to more downside to come.
Dow Jones (YMZ2024) - King Of The Hill1st in place but we are starting to see price faulter to the upside.
Awaiting more data to make a accurate decision.
Short opportunity on YM...I Think YM Can Sell off on this Price Zone Almost 5000 Point!!
October is red...
Sideways Consolidation Waiting For Stop Run To 42,000I have the 50% of the prior range from FOMC as the target for the dump down before the trend continuation. We are no where near a top yet as there is no indication of topping.
There are ONLY two possibilities. Either we break out now with this move or it dumps down first and then breaks out. I am leaning on the latter.
My goal is to be a master at support and resistance on the 4 hour
