Hello TradingView Community,
This post outlines a potential long trade setup on the Dow Jones Industrial Average Index (US30) on the 15-minute timeframe.
Technical Analysis:
The chart shows the price has been trading within a range, with a key horizontal level at approximately 46,732.10 acting as a significant resistance. We have recently seen a strong bullish breakout above this level, indicating that buyers may be taking control.
The trading idea is based on a classic "resistance-turned-support" pattern. After breaking out, the price is now pulling back to retest this former resistance from above. The expectation is that this level will hold as new support, providing a solid base for a continuation of the upward move.
Trade Setup:
The long position tool on the chart visualizes a potential trade plan for this bullish scenario:
Entry: Approximately 46,732.10 (at the retest of the new support).
Stop Loss: 46,490.84 (placed below the key support structure to invalidate the idea if the level fails to hold).
Take Profit: 47,430.58 (targeting a new higher high).
This setup provides a structured plan with a favorable risk-to-reward ratio for a potential continuation of the bullish momentum.
Disclaimer: This analysis is for educational and discussion purposes only and should not be considered as financial advice. Trading indices involves a high level of risk. Please conduct your own research and manage your risk appropriately.
This post outlines a potential long trade setup on the Dow Jones Industrial Average Index (US30) on the 15-minute timeframe.
Technical Analysis:
The chart shows the price has been trading within a range, with a key horizontal level at approximately 46,732.10 acting as a significant resistance. We have recently seen a strong bullish breakout above this level, indicating that buyers may be taking control.
The trading idea is based on a classic "resistance-turned-support" pattern. After breaking out, the price is now pulling back to retest this former resistance from above. The expectation is that this level will hold as new support, providing a solid base for a continuation of the upward move.
Trade Setup:
The long position tool on the chart visualizes a potential trade plan for this bullish scenario:
Entry: Approximately 46,732.10 (at the retest of the new support).
Stop Loss: 46,490.84 (placed below the key support structure to invalidate the idea if the level fails to hold).
Take Profit: 47,430.58 (targeting a new higher high).
This setup provides a structured plan with a favorable risk-to-reward ratio for a potential continuation of the bullish momentum.
Disclaimer: This analysis is for educational and discussion purposes only and should not be considered as financial advice. Trading indices involves a high level of risk. Please conduct your own research and manage your risk appropriately.
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.
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.