It's been a while since we looked into Dow Jones (DJI) and made the bottom buy on the Channel Up last Higher Low (chart below):

Right now the index is rising after a rebound on a Double Bottom on the 1D MA50 (blue trend-line). The dominant pattern is a Channel Up and the secondary a Diverging Channel Up (dotted lines) that forms a Higher Highs rejection zone within Resistance 1 (34530) and its top. We will look for a sell on the next candle inside it (ideally with the 1D RSI on its Resistance Zone) and target the bottom of the Channel Up at 33650 near Support 1.
If however the price breaks above Resistance 2 (34950) and the MACD maintains the Bullish Cross it is forming today, we will open a buy and target 33500 (just below Resistance 3).
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Right now the index is rising after a rebound on a Double Bottom on the 1D MA50 (blue trend-line). The dominant pattern is a Channel Up and the secondary a Diverging Channel Up (dotted lines) that forms a Higher Highs rejection zone within Resistance 1 (34530) and its top. We will look for a sell on the next candle inside it (ideally with the 1D RSI on its Resistance Zone) and target the bottom of the Channel Up at 33650 near Support 1.
If however the price breaks above Resistance 2 (34950) and the MACD maintains the Bullish Cross it is forming today, we will open a buy and target 33500 (just below Resistance 3).
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** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! **
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👑Best Signals (Forex/Crypto+70% accuracy) & Account Management (+20% profit/month on 10k accounts)
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
💰Free Channel t.me/tradingshotglobal
🤵Contact info@tradingshot.com t.me/tradingshot
🔥New service: next X100 crypto GEMS!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
