Dow Jones YM Week of January 15-19 Expected Range BoundI am expecting another choppy range week and will buy the lows, sell the highs. Will take it slow this week and try to avoid getting chopped up.
I am only going to allow 2-3 trades per day.
I am only going to allow 2 losses per day as Max daily loss
I am only going to allow 2 winners in a row as Max profit protection
I will only do 2:1 on every one of my trades and at the end of the week, add up my P/L stats.
I will try to shoot for 50-60% win rate.
10 trades at 2 to 1 at 50% win rate is 5% gain.
UDF1! trade ideas
YM Daytrade Buy Channel Range Bottom Limit Order 37701I put my limit order at 50% of the last 15 minute fat bar. I am waiting for a pullback for a trap shorts. The 200sma on both the 15minute and the 5 minute is flat. My stop is 49 ticks with target at 37864 just before resistance for 162 ticks. About 3.3 to 1
4 Hour Next Day CPI Pullback Setup IdeaI was tinkering around with news ideas and I have come up with this setup that I will try if market sets up with all my rules. I must have these rules in place, Most importantly, a fat CPI green bar followed by an even fatter, Bear engulfment bar. Once these are in place I will place a sell limit order in the middle of the golden pocket of that bear engulfment's High/Low range. I will target just a bit before that 50% mark of that prior fat green bar from December 13th.
December 13th 2022 setup blueprint
This post is merely a tutorial of sorts to show a potential 4 Hour Swing trade idea. I will give it a try. As long as my risk is contained then I am ok with the loss.
YM1 US30 - SMART MONEY BEARS? 📈💥Just a quick update – the Cpi has hit, and as a result, the YM1 US30 DOW JONES is now priced in. Yesterday's high and low prices have been swept, and the current price is in a state of flux. However, it seems that bears are starting to take over, and it's possible that the price will decrease since liquidity has already been swept and we are in extreme premium price. We'll have to wait and see if the price retraces and takes the lows from last week out.
YM DOW FUTURES Still Range Bound Topping Pattern My long term thesis is an 18 month sell off back down to the monthly rising 200sma. My only concern is when is the market going to start. We are bumping up on the yearly up channel. My guess is it might take a couple of months to get going.
Short term we have the CPI report in 12 hours. My best speculation is that it will be bullish and choppy to hit the stops up high and the top of the bear flag. I notice it is a bullish pullback on declining volume.
Also, on the weekly chart, the 10 week rally that we had so far, is also on declining volume. The short sell off before it was on increasing volume. I also noticed that on the weekly, the 21ema is flat, range bound and not respected by price. This is indicating a flagging pattern or consolidation pattern.
Here on the monthly, the topping process is forming. When will it start? I have no clue. The market takes it time to build up before it starts moving. Here on the monthly, it is like watching paint dry
DOW JONES FUTURES Range High Sell Same Setup August CPII don't know if it will play out exactly like August 7th but any small pop above the flat 200sma I must short as required by my strategy. I don't get to pick and choose. Going over prior data I noticed that August looks very similar to what is happening now. I am not saying that is what is going to happen just an observation.
Anyway, I am short the Asia open with a fill price of 37,888 stop above the high at 105 ticks, targeting the range low at 400 ticks.
I want to be out of this trade before January 11th CPI as it has the potential to blast higher like it did in August. I may even try shorting that pop above the 200sma as well. I think I will place a limit order in between those two red lines depending on how it is setting up and from where.
Here is Chart of August
Here is Chart of January, Today
Dow Futures (YM) Doing Elliott Wave Corrective PullbackShort-term Elliott Wave View in Dow Futures (YM) suggests that the rally to $38115 high has ended the cycle from the 10.27.2023 low in wave (3) as 5 wave impulse structure. Down from there, the index is doing a corrective pullback in wave (4) against the October 2023 low cycle. And is expected to find buyers in 3, 7, or 11 swings looking for more upside. We will explain the forecast in 30 Minutes chart below:
Down from $38115 high the index is doing a corrective pullback when the initial decline to $37664 low ended wave (w) in a lesser degree 3 wave. Then a bounce to $37985 high ended wave (x) in another 3 waves. Below from there, the (y) leg lower ended at $37504 low after reaching the extreme area at $37534- $37427 area. Thus completed wave ((w)) as a double correction. Since then, the index is doing a short-term bounce in wave ((x)) as the Elliott wave expanded flat correction. Whereas small wave (a) ended at $37882 high. Wave (b) ended at $37470 low and wave (c) is expected to fail against $38115 high.
Week 2 January Daytrading Gameplan DOW JONES FUTURESI am performing my own weekly analysis for the week ahead. I may not be entirely sure what is in store for next week but my strategy calls for shorting into the 200sma whether it pokes its head above or not. I will be mostly short bias but if long, I WILL be closing before it reaches the 200sma.
In my eyes I am seeing a range developing with a slight hint of a bearish bias. It looks to me that price is still retreating to go into demand zone at 37,200.
January 11th is CPI and I think it could spike up and over the 200sma for the fade back down.
Wednesday January 3rd Range Day? Up or Down first? Let's See!!Being in a range, will Thursday go up first to take out stops then go short?
OR
Will it go down first to take out stops before going Long?
I will wait for the outsides and see which scenario happens.
Range trading is very difficult for me and I get chopped up.
Please like and leave comments if you want. Thank you
Where's The NQ Headed To Start 2024? Volume Leaves Clues...The sellers had the ball to start off 2024, especially for the NQ which had its biggest decline in over 3 months.
In this brief 5-minute video, I touch on my 2 favorite *indicators* of potential price direction, Anchored VWAP combined with a range-based Volume Profile. This methodology highlights areas the market may revisit, potentially in short order, as we kick off the year.
Indicators on the chart:
Anchored VWAP
Visible Range Volume Profile (VRVP)
233 Exponential Moving Average
Dow Futures (YM) Looking to Extend Higher to Complete Impulsive Short Term Elliott Wave View in Dow Futures (YM) suggests that rally from 10.27.2023 low is in progress as a 5 waves impulse structure. Up from 10.27.2023, wave 1 ended at 34315 and pullback in wave 2 ended at 33913. The Index then rallied higher in wave 3 towards 38012 and pullback in wave 4 ended at 37390 as the 30 minutes chart below shows. Wave 5 higher is currently in progress as another 5 waves structure.
Up from wave 4, wave (i) ended at 37878 and dips in wave (ii) ended at 37604. Wave (iii) higher ended at 38026, and pullback in wave (iv) ended at 37876. Final leg wave (v) ended at 38089 which complete wave ((i)). Pullback in wave ((ii)) ended at 37758 with internal subdivision as an expanded flat. Down from wave ((i)), wave (a) ended at 37841, wave (b) ended at 38113, and wave (c) lower ended at 37758 which completed wave ((ii)). The Index has resumed higher in wave ((iii)). Up from wave ((ii)), wave (i) ended at 38070, and pullback in wave (ii) ended at 37857. Near term, as far as pivot at 37390 low stays intact, expect the Index to extend higher.
Dow Jones Gap Fill TradeHow many gaps get filled?
Gaps in the chart fill 80% of the time .
......................................................................................................................
We are not registered or licensed in any jurisdiction whatsoever to provide investing advice or anything of an advisory or consultancy nature.
and are therefore are unqualified to give investment recommendations.
Always do your own research and consult with a licensed investment professional before investing.
This communication is never to be used as the basis of making investment decisions, and it is for entertainment purposes only.
(YM DOW MINI) PATTERN FORMATION SHOWING BULLISH IN NEXT HOUR This is the YM Dow MINI FUTURES contract chart. This is a amazing, clear as day #BULLISH PATTERN Should start pushing up within the next hour? or two? for a nice run. for all the extra early birds out there trading y'all can take advantage of this Make sure you're always paying attention. to the structure and when it breaks allow smaller time frame candles. or one full candle to close above the breaking of THE triangular pattern.
Let me know if anyone was able to jump on this trade. I believe gold might have a similar occurrence. about to check next.
DOW JONES Gameplan 42,250 Top 2025 40% Sell Off 24,400This is what I am anticipating for the next 3 years or so on the DOW'S weekly chart.
I am expecting a bullish run up in this bear flag formation to hit the third measured move up to 42,250 before the next sell off down to the covid low demand area of 24,400.
This last weekly run up was the second measured move and is still in progress to hit 39,000 based on the January 11th CPI report. This move is also the start of the head and shoulders formation of the right shoulder and the complex topping pattern.
Once that neckline gets broken, look out below.
I will still be pursuing bullish strategies up until 2025 and the 42,250 price target. After which I will be selling my portfolio for cash to get ready for the next wonderful buy opportunity at 24,400.
The weekly chart is the KING and is what the market maker's plan every weekend when the market is closed.
DOW JONES CPI January 11th 2024 Bullish to 39,000I am basing my analysis on the chart and using trend analysis to determine that it is still bullish. It is not at the top but in the topping process for this second leg of 20%.
January 11th is the next major red news of CPI and I believe that will be the catalyst to propel price to its goal of 38,800-39,000 target.
Using the last 20% leg up back in October 2022, you can see how everything is playing out perfectly.
The hourly 200sma sloping down, to a curl upwards at the bottom of the move.
The trend channel's bottom lined up with the hourly 200sma
Nearing the top of the monthly up channel
Support from major red news ( FOMC Dec 13th 2023)