US30US30 on daily will retest the neckline trendline and a demand floor for a potential buy opportunity
US30 trade ideas
US30US30 rejected the roof at strong supply zone in the form of ascending trendline and sent price tanking, on technical buy us30 tomorrow, but we will look at strong confirmation on lower time frame for buy entry position
Analyzing Market Trends and FED Interest Rate Decisions "SPX"The daily chart above highlights FED interest rate cut decisions with vertical lines. I've used the DJI ticker instead of SPX, as it provides a more comprehensive representation of the overall market, unaffected by the dominance of the Magnificent Seven.
My analysis focuses on monthly candle peaks (indicating overbought conditions) and lows (indicating oversold conditions), as well as direction reversals. This cycle repeats, forming higher highs and higher lows. By identifying these patterns, we can determine the market direction, which is either trending upward (green) or downward (red).
Now we know the direction where the market is heading. Its either trending to form a new higher high OR new higher low.
With that understanding, when we plot vertical lines on FED decision days, the direction has not changed. HOWEVER, the decision is accelerating the market direction to its targeted price(either higher high or higher low).
The above guidance is for swing traders for a duration of about 2/3 weeks. Intraday traders can benefit this by looking at days high and low before decision announcement and knowing where the market is generally headed.
As a trader, I utilize custom-built screener tables that cascade data across multiple timeframes and stocks/sectors. This unique approach provides a fascinating big-picture perspective, highlighting strong stocks and sectors.
Reach out to me OR follow me for further insights.
Happy Trading!!
US30 morning analysisTechnical analysis of US30.
Cleaned Elliott Wave count off chart.
Pitchfork drawn from major pivots over the last 5 years (March 2020 low to January 2022 high to October 2022 low.
If price cannot tag the median line (red line) of the pitchfork, there is a high probability that price will return to the last pivot (green ellipse).
At present, tagging the median line would require ~20% gains from current price. Anything is possible, but odds would seem to favor <20% gains in 2025.
Price again broke pitchfork support (lower blue line) yesterday, on impulsive price action.
If top is in, price likely to topple towards October 2022 low (28586.8) on continued impulsive price action.
Possible Cypher bullish pattern for Dow?Hi Guys,
The US 30 has been getting sold off from its most recent high and there has been minimal to no interest for any support thus far.
Currently it is testing the 50DMA and close to daily support level., where we may see a small bounce up to lower time frame resistance levels. A break and close below the 50DMA and further a break below support opens the door for the Dow to head to the FVG below, and a test of the 100DMA and a very obvious demand zone where a bullish move looks inevitable.
If price does move to that area then there will also be the entry point for a bullish cypher pattern with excellent fib ratios. All in all nice confluence at the cypher entry point if price can get there. Daily RSI is currently not yet in oversold but could end up being so if we move down to the cypher entry zone, which will add to confluence.
Furtermore, if the Dow can rally from there back up to the high then there could again be strong selling pressure at the 2.0 retracement of the bear market high to low located at around 45300 level. ( Dow did not quite hit that level on this swing lower and RSI was not in overbought albeit showing clear divergence)) Two potential huge risk to reward trades if price reaches these levels.
Safe Trading all
US30 shorts , huge profits huge fall on us30 , i first approach this trade by identifying the triple top at the end of the uptrend . once price broke below the neckline and pulled back . i enter my first entry and than slowly scaled into the trade with other lot sizes as the down trend continued to play out
scalling babyWhat are the stages? What are the stages to escape from slavery? Now you know it...
~ AS Malone
US30US30 buy signal triggered on 5mins mss on the previous idea on buy entry,
Strategy: 4H Liquidity grab, mss, bos, retracement to an order block coupled with an imbalance.
US30 at Support Pre-FOMCUS30 (4H) Dow Jones Industrial at support. October high backed by the October high week close. Bulls need to hold this levels to remain constructive on this stretch.
Dow Jones rebound Dow Jones is probably bottom as my indicator on the 1hr timeframe show that. This movement compare to nasdaq is bullish. a shift of liquidity from nasdaq to Dow ahead of FOMC today?
Expecting windfall returns after another 2% down on DJI
As I analyze the charts of DJI and S&P300, a compelling narrative emerges. To establish a higher low, DJI needs to revisit its support level, approximately 2% lower from current levels, before the end of this month.
To gain more confidence in the overall market structure, I constructed an S&P300 index by selecting the top 300 volatile stocks from the S&P500, excluding the top 10 largest market capitalization stocks to minimize data skew.
The chart below displays two sets of candles: DJI (divided by 400 for scaling purposes) at the bottom and S&P300 at the top. Observing the S&P300 chart on a monthly timeframe reveals a notable pattern – most candles bottom out approximately 2% above their previous month's low.
Currently, the S&P300 price is still 4% above its previous month's low, indicating another 2% downturn is likely. Given the strong correlation between DJI and S&P300, it's reasonable to assume DJI will follow a similar path.
With this insight, traders can confidently prepare for potential trading opportunities, leveraging the anticipated 2% drop to their advantage.
# Key Takeaways:
- DJI needs to revisit its support level, approximately 2% lower from current levels, before the end of this month.
- S&P300 is likely to experience another 2% downturn based on its monthly chart pattern.
- Strong correlation between DJI and S&P300 suggests a similar price movement.
# Trading Strategy:
- Prepare to take trades at the anticipated support level, leveraging the expected 2% drop.
- Monitor the S&P300 chart for confirmation of the 2% downturn.
- Adjust trading strategies accordingly to optimize returns while minimizing risk.
Happy trading!!!
Checkout my other free indicator sangana beta table to see beta of stocks in a table all at once(works for S&P500 and Nifty 500).
Note: I am not a financial advisor. Do your own research before investing!!
Dow Jones (US 30) Pullback to Channel SupportChart Analysis:
The Dow Jones Industrial Average remains firmly within an ascending channel (green zone), with the current price nearing key channel support after a pullback.
1️⃣ Ascending Channel:
The price continues to respect the upward-sloping channel, which has been intact since mid-August. The lower boundary, near 43,450, is a critical support level to monitor.
2️⃣ Moving Averages:
50-day SMA (blue): The price is testing this level at 43,514, which aligns with the channel support, acting as confluence.
200-day SMA (red): Positioned at 40,705, reinforcing the broader bullish trend and serving as a long-term support zone.
3️⃣ Momentum Indicators:
RSI: Currently at 39.77, approaching oversold territory. A bounce from this level could signal renewed buying interest.
MACD: Bearish momentum persists, with the MACD line trending downward. However, traders may watch for signs of a crossover near support.
What to Watch:
A successful defense of the ascending channel support and 50-day SMA could provide a foundation for a rebound toward the channel's upper boundary.
If the support fails, the next significant area of interest would be the 42,000 level or the 200-day SMA near 40,705.
RSI movement and MACD signals will be key for confirming shifts in momentum.
The Dow remains within its bullish channel, but traders will be closely watching how price reacts to this critical support zone.
-MW
US30 SWING TRADE IDEA, FOR 16TH, DEC 2024.The Dow Jones Industrial (US30) is technically on an overall uptrend but currently recovering from a short-term downtrend retracement, with possible chances for an entry if an opportunity presents itself.
NB: All ideas are personal and probable Analysis for educational purposes, no accountability will be held if any loss is incurred. trade carefully and responsibly because the markets are risky walk wisely.
US30Market still in the bearish trend, if any reversal pattern occur at the support zone will go long with the main direction..
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Thank you!!!!!
US30/DOW - LONG OPPORTUNITYTeam, the DOW is about to breakout, good entry
PREPARE TO ENTER LONG US30/DOW at 43610-15
STOP LOSS AT 45555
TARGET 1 AT 43667-75 - take partial and bring stop loss to BE
TARGET 2 AT 43736-52
TARGET 3 AT 43825
US30After a long downward and stepwise movement, I am now waiting for a stronger movement to return the price to higher levels
US30 Still Bearish and will likely fall to 43300US30 failed to stay above the 43800 support Line causing price to be stalled between 43800 resistance area and 43500 support area. This is a very week support area and price will likely gravitate to the 43500 line by tomorrow so an intraday short is an idea to consider. Price is nicely falling within the trend channel and shows no immediate or on coming sign of recovering.
Short- Look to take a short to 43500 TP1 or 43300 TP2
Good Trading.
US30 in consolidation patter but will likely fall someUS30 is showing resilliance at support level 43700 with the entire day hovering on or around that support line. Price is currently within the trend line channel and and therefore would have to consolidate above that support area in order to maintain its levels. If price within the next 8 hours does not recover above the current support line it will likely fall some more. The next support level is at 43500. Look to short the US30 from a retest of the current support line to at least 43500. Make sure to set your TPs properly because it will be a fast fall to a rebound when it does.
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US30We can attempt to buy US30 from specified level as it make HL , also 0.618 FIB level intact indicate that it moves upward.
SL , TP mention in chart.
US30 Potential ShortKey Observations:
Fibonacci Retracement Levels:
The chart shows a retracement of the prior downward move, and the price is currently reacting near the 0.382 Fibonacci level at 43,828.18.
The retracement failed to break through the 50% level (44,062.83), indicating weak bullish momentum and reinforcing the overall bearish bias.
Further rejection below the 0.382 level could signal continuation to the 0.236 level (43,533.57).
Price Action & Support/Resistance:
Price is consolidating just above 43,770 and appears to be testing the lower levels. A breakdown from this support could send price to test 43,537.19, which is aligned with previous structure and the 0.236 Fibonacci level.
If price breaks 43,828 and finds support, a pushback toward 44,062 (50% retracement) could occur.
Bollinger Bands:
Price is currently trading near the lower Bollinger Band, suggesting potential short-term oversold conditions.
However, Bollinger Bands are widening, signaling increased volatility and a continuation of the current trend.
Relative Strength Index (RSI):
RSI is hovering below 40, indicating bearish momentum but not yet oversold.
Any further decline below 30 would suggest strong bearish continuation.
A minor divergence may form if price creates lower lows but RSI fails to follow, which could hint at a reversal.
MACD (Moving Average Convergence Divergence):
The MACD histogram remains below the zero line, confirming bearish momentum.
The signal line is trending downward, but a smaller histogram bar suggests bearish momentum might be slowing.
Key Levels to Watch:
Support Levels:
43,770 (Current support area).
43,533.57 (0.236 Fibonacci retracement, next major support).
Resistance Levels:
43,828.18 (0.382 Fibonacci retracement, immediate resistance).
44,062.83 (50% Fibonacci retracement, critical short-term resistance).
Potential Scenarios:
Bearish Continuation (Primary Bias):
If price breaks below 43,770 with strong momentum, the next target would be the 0.236 level at 43,533.57.
Indicators like the MACD and RSI support bearish continuation unless a divergence forms.
Relief Bounce (Secondary Scenario):
A bounce from 43,770 or the 0.382 Fibonacci level could see price retracing back to 44,062.83.
Traders should watch for bullish confirmation like RSI climbing above 40 and MACD showing convergence.
Recommendation:
Short Sellers: Monitor for a breakdown below 43,770 and target 43,533.57. Use stop-loss around 43,900 to limit risk.
Long Traders: Wait for a bullish confirmation (RSI divergence, MACD crossover, or a strong bullish candle) near support levels.
This setup favors a bearish continuation with the potential for short-term relief bounces.
Managing risk and waiting for confirmation signals is key and do not risk more than 1% of your account!
