US30 14H
We are at the end of the fifth wave and it is likely that the Dow Jones index will take a break up to the specified areas!
There is also a divergence in the RSI!
What do you think?
DJI trade ideas
Dow may face strong resistance?Hi Guys.
The US 30, Dow Jones is fast approaching an area that may see some strong selling pressure.
Ive written previous posts regarding The Fib 1.618 retrace of Dows bear market high to low is the zone I have drawn on the chart.
Both Dow's counterparts, SP 500 and NAS100 corrected at their respective 1.618 retracements of the bear market.
The Dow has been travelling in the channel on the chart and it is now at the upper part right as we head into that zone.
Also RSI is showing clear divergence on daily, for added confluence entering into a potential sell zone. Preferably having RSI enter overbought again and then look for sell trades on lower time frame for potential big risk to reward play.
There is a harmonic forming if price does follow the path to the zone and pulls back. The two possible patterns could become either a cypher whose entry point lands conveniently on the lower channel line or should we break the channel low then a shark pattern where the entry is between 0.886 and 1.13.
Safe Trading all
Dow Jones Industrial - DJI - is creating a ending diagonalEnding Diagonal Overview
An Ending Diagonal is a pattern that signifies the exhaustion of a larger movement. It occurs at the final stages of a trend, either at the end of a five-wave impulse or at the end of an A-B-C corrective structure. Typically, ending diagonals take longer to unfold compared to standard impulses, indicating a slowdown and an imminent trend reversal.
Key Rules for Ending Diagonals
• Where they appear: Ending diagonals can occur in either Wave 5 of an impulse or Wave C of a corrective structure.
• Wave count: An ending diagonal subdivides into five waves.
• Wave structure: Each of the five waves in an ending diagonal consists of three smaller waves.
• Wave overlap: In an ending diagonal, Wave 1 and Wave 4 overlap, unlike a standard impulse.
Guidelines for Identifying an Ending Diagonal
• Wave size: Wave 1 is typically the largest among Waves 1, 3, and 5.
• Contracting vs. Expanding Diagonals:
• In a contracting diagonal, Wave 5 often terminates slightly beyond the trendline connecting Wave 1 and Wave 3.
• In an expanding diagonal, Wave 5 typically ends before the trendline connecting Wave 1 and Wave 3.
• Wave 3 extension: If Wave 5 is an ending diagonal, Wave 3 is most likely to be extended.
• Implication of extensions: Wave 5 extensions, truncated fifths, and ending diagonals all suggest a significant reversal is approaching.
• Sub-wave structure: Unlike typical impulses, the sub-waves Wave 2 and Wave 4 do not alternate in terms of structure. Both corrections are usually simple ZigZag patterns.
• Throw-over phenomenon: Often, prices may briefly shoot beyond the trendline connecting Wave 1 and Wave 3 in a phenomenon known as a throw-over, indicating extreme exhaustion. This is followed by a sharp reversal.
• Trading opportunity: A strong buying opportunity usually emerges when prices break above the diagonal trendline connecting Wave 2 and Wave 4.
Internal Wave Structure
The internal structure of an ending diagonal follows a 3-3-3-3-3 pattern. Each of the five waves in the diagonal subdivides into three smaller waves, typically following an A-B-C ZigZag pattern. This differs from a typical impulse, which subdivides into a 5-wave structure.
Conclusion
Ending diagonals mark the completion of major trends and serve as powerful reversal signals. Recognizing their internal wave structure and the key characteristics such as the overlap of Waves 1 and 4, the throw-over, and their 3-wave subdivisions can help traders identify impending reversals and take advantage of new trend opportunities.
SHORT US30 - wait for break out at 41967Team, another SHORT FOR US30, once it reach at 41967, then short, we need a break out
Stop loss at 42045
target 1 at 41864.8
Target 2 at 41721.4
US30 I Potential short scalp from top of the channel Welcome back! Let me know your thoughts in the comments!
** US30 Analysis - Listen to video!
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US30-BREAKOUT4YR: Resistance was broken and the price have been above the resistance.
18: Breakout of the previous High which is flag formation on small timeframe
1D": Pin Bar, waiting to buy close off the Pin bar, at the US Open
Dow Jones Targets New Highs Amid Fed RateDow Jones Closes at a Record High Above 41,700 Ahead of Major Fed Event
Technical Analysis:
The price has stabilized within a bullish zone and, depending on that will continue the trend while above 41565
Sustained stability above 41,565 could drive the index higher towards 41,980. Conversely, a break below this level could signal a corrective move down to 41,340. Additionally, a short-term correction to 41,620 is possible from the current price.
Key Levels:
Pivot Point: 41,620
Resistance Levels: 41820, 41980, 42100
Support Levels: 41565, 41340, 41030
Trend Outlook:
Uptrend: Above 41,565
Downtrend: Below 41,340
US30 Is Very Bearish! Short!
Please, check our technical outlook for US30.
Time Frame: 1D
Current Trend: Bearish
Sentiment: Overbought (based on 7-period RSI)
Forecast: Bearish
The market is testing a major horizontal structure 41,801.97.
Taking into consideration the structure & trend analysis, I believe that the market will reach 40,853.86 level soon.
P.S
We determine oversold/overbought condition with RSI indicator.
When it drops below 30 - the market is considered to be oversold.
When it bounces above 70 - the market is considered to be overbought.
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Hellena | DJI (4H): Long to resistance area 41687. Dear colleagues, I believe that the correction in the wave “2” has already taken place and therefore the impulse wave “3” has started, which according to the rules of wave analysis should reach the resistance area 41687.
This is possible in 2 cases:
1) wave 1 has not been formed yet
2) after wave 2 in wave 3 (then this level will be reached 2 times).
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Bearish drop?DJ30 is reacting off the the resistance level which is a pullback resistance that aligns with the 161.8% Fibonacci extension and could drop from this level to our take profit.
Entry: 41,785.78
Why we like it:
There is a pullback resistance level that aligns with the 161.8% Fibonacci extension.
Stop loss: 42,102.21
Why we like it:
There is a resistance level that lines u with the 127.2% Fibonacci retracement.
Take profit: 41,103.61
Why we like it:
There is a pullback support level that lines up with the 38.2% Fibonacci retracement.
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U30 Setup. Thoughts?I expect to US30 to grab the buyside liquidity and mitigate the order block and sell
Short here or short on rise.. lets see..The news..
Rate cut, probably well do discounted.
It's just a study not a trade suggestion.
Channel, pattern support, resistance.. that's all in there.
I use indicators but this looks like a clear concept so avoiding indicators reading.
Dow Jones Index (US30): What to Expect from FOMC?
Dow Jones Index is very weak ahead of FOMC today.
The market is stuck within a horizontal range on a 4h time frame.
Depending on the reaction of the price to its boundaries,
I see 2 potential scenarios.
Bullish Scenario
If the price breaks and closes above 41820 - the resistance of the range,
we can expect a bullish continuation at least to 42000 level.
Bearish Scenario
A bearish breakout and a candle close below 41440
will push the price lower at least to 41200 level.
Wait for FOMC and then follow the market after a breakout.
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US30For US30 , I expect the area between 42,236 and 42,330 to be a very strong resistance zone. If the price fails to break through it, we will likely see a correction down to the 39,989 level. This analysis will be invalidated if the price exceeds this zone and a daily candle closes above it.
US30 TO NEW ATH OF $43,050 (2WK TF)🚀US30 moving like clockwork😍 Price is currently down 1,630 PIPS (-4.58%) & more downside is expected. You can use this opportunity to capitalise on sell positions, then buy back at a cheaper price later on & target new ATH'S.
US30 TO NEW ATH OF $43,050 (UPDATE)Our long term position on US30 has been moving so smoothly! Price is now up 8,350 PIPS (25% ROI) since I called it live last year on the channel for you all😍
Close out partial profits if you haven't already. Just a little more upside left to go!
