IvanLabrie
Long

Dow Jones Industrials: Downtrend until the 14th

FX:US30   Index of top 30 shares on Wall Street
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.
If you're interested in joining my trading newsletter or private lessons, message me. I trade Forex, Equities and Commodities. Contact: skype @ ivanlabrie, PM here or QQ (2954487803).
claydoctor
a year ago
Hope so.
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IvanLabrie TOP claydoctor
a year ago
What is it that you hope? :)
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claydoctor IvanLabrie
a year ago
I am in vxx right now, so hoping market continues lower, but today was a shocker, China stimulus was just what the bull ordered. We will see if it has some substance or not, I think not. But not sure of the time frame I will be right in, this week or next month.
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claydoctor claydoctor
a year ago
VIX and VXX have the longest base built in ever, ever, which means the correction, when it comes will be sudden and deep.
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IvanLabrie TOP claydoctor
a year ago
I think it'll just rally, against all odds...when everyone's high on hopium again it'll crash, big time.
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If we move above the mode I'll go long here.
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Placed a pending long above 17659, stop at 17275. No tp.
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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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Looking to see if the target area holds for longs.
Public sentiment is getting really, really bearish.
I'll wait patiently.

snapshot
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IvanLabrie TOP IvanLabrie
a year ago
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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Placed a small pending long at 17628, stop at 17125.
Will scale in and manage it if triggered.
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snapshot
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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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snapshot
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IvanLabrie TOP IvanLabrie
a year ago
snapshot
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IvanLabrie TOP IvanLabrie
a year ago
1 atr stop buy here.
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