IvanLabrie
Long

Dow Jones Industrials: Downtrend until the 14th

FX:US30   Dow Jones Industrial Average Index
Levels on chart, estimated time for the downtrend conclusion is August 14th.
I'll be monitoring the support levels below to go long.

The boxes represent the earnings season range and I plotted the 50% level, as depicted in Tim West's publications. You can clearly see the reaction to it in the chart.
I also added the 66, 253, 50 and 200 EMAs as well as the options expirations support and resistance lines indicator.

Going short now is a bit late, so I'll wait for the long entry.
If the fear spike support fails to hold, the result could be an extended decline, but it's not likely to happen yet.

Good luck,

Ivan.
IvanLabrie IvanLabrie
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IvanLabrie IvanLabrie
1 atr stop buy here.
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We might see an equities rally next.
If above the earnings level on purple, invalid if we get new lows.
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Placed a small pending long at 17628, stop at 17125.
Will scale in and manage it if triggered.
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Looking to see if the target area holds for longs.
Public sentiment is getting really, really bearish.
I'll wait patiently.

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IvanLabrie IvanLabrie
The reaction to the green zone on chart today was really strong!
Might have been 'the' low.
I'll watch it, I'd rather take a confirmed long entry.
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Downtrend failed but the mode rejectes price on a retest. Looks bearish, rgmov points down.
I'm watching for shorts, not much to do for now.
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Placed a pending long above 17659, stop at 17275. No tp.
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