Dow Jones / US30 hit the bottom of the Channel Down that is correcting the index to the Rising Support of the larger Channel Up pattern.
It did cross under the 1day MA200 (bearish) but on the other hand the 1day RSI is rebounding on the Oversold Support (bullish) like on the March 13th low.
Keep a tight SL on the low of the bottom candle and buy. Target 34400...
Dear colleagues, I assume that wave 4 is coming to an end and the price is in the area of long positions. I believe that the price will reach the resistance area 34067. Perhaps the price will renew the minimum. Be careful.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
Dow Jones is priting a bottom on the newly emerged Channel Down which calls for a short term buy.
The same kind of formation was witnessed in middle March on the long term bottom pricing when the (recently broken) Channel Up started.
Trading Plan:
1. Buy on the current market price.
Targets:
1. 34400 (MA50 1d).
Tips:
1. The RSI (1d) is on the 30.00 oversold...
Babylon, the city where everybody spoke different languages.
In the end, Babylon met grave consequences.
(Macro perspective of the main chart)
Citizens of Babylon, in our case traders, can barely communicate.
They all speak in different timeframes, and with contradicting interests.
Which translator in their right mind can untangle spaghetti?
Many different...
SPX is plowing through higher highs. It is a runaway train.
Have you entered that train yet? You better enter it because SPX will soar!
But runaway trains have the fate of collapsing in on themselves.
Their weight is too much for the foundation to sustain.
Not all is SPX. VIX is also attempting to measure the risk involved in SPX.
And VIX is as bullish as it...
BUY ABOVE - 33664
SELL BELOW - 33621
** WORKS BEST ON 5 MIN TIMEFRAME **
*** MARKET SECRET ***
1. TRADE WHAT YOU SEE NOT WHAT YOU ASSUME
2. FOLLOW THE TREND BECAUSE TREND IS YOUR ONLY FRIEND
Our motto is to help each and every individual to reach and achieve their financial goals across the world by empowering individuals with the accurate knowledge and skills...
Electric vehicles are growing so fast that Exxon Mobil is preparing for a future when "customers don’t need that gasoline".
Exxon Mobil Corp., which operates one of the world’s biggest oil-refining networks, is trying to be more responsive to changing consumer demands as the energy transition gathers pace. The changes it’s considering include potentially...
Stated a while ago, not sure if we posted here but did elsewhere (see profile), that we had short term Treasury exposure @ 50% but it's 75% atm. (it's a placeholder until trend changes)
Should've been shorting the entire time down.
TVC:DJI @ support but this area has not been a strong level.
However, we are severely oversold so that bounce can be close & it...
New update.
It seems like markets have found themselves face to face with reality. The bear market rally seems to have run out of steam due to the amounting economic and inflationary data. Simply put, I do not think markets can rally from here, based on:
RSI overbought on 1W
MACD Crossed on 1W
Food prices are at 18 moth highs according to UN.
Fuel...
This is where we see how serious the decline in DJ:DJI is.
AMEX:DIA has not been this oversold since March of this year.
2nd Pic:
Right side = 15minute chart
The lower part shows the Relative Strength = RSI
At the moment is shows some positive divergence, higher lows as index falls.
This is the battle ground!!!!!!!
Keep in mind that the index has taken a...
Dear colleagues, I think that the price will make a correction to the resistance area 34254. If the price does not update the minimum of wave 1, then it will be wave 4.
Manage your capital correctly and competently! Only enter trades based on reliable patterns!
- DJI is currently encountering strong resistance at 34500.
- The psychological significance of this resistance level adds to its importance.
- This could be one of those, Go Big or Go home scenerios
- In case the resistance holds, a potential psychological support level at 33000 may come into play. The support trendline intersects at a similar level.
What is...
The Dow Jones index (DJI) has broken below the long-term Higher Lows trend-line and has transitioned into a Channel Down. The current Lower Lows leg is approaching not just the bottom of the Channel Down but more importantly the 1D MA200 (orange trend-line) and the 1W MA50 (red trend-line). The latter in particular provided a Double Support Bounce on (June 01 and...
Fibonacci levels from historic lows, to significant tops. Note that at the .786 level, and anything lower, (note as well the potential 30% drawdown lasting up to 2 months that can occur at significant cycle bottoms) has historically been the bottom for the cycle. We might front run the bottom though and fill up before we reach say $10,000 or lower. The 2018 bear...
![DJX: [Dow Jones] bearish](https://s3.tradingview.com/z/zXySdzfJ_mid.png "[Dow Jones] bearish")
