1.Price had a strong bearish move during the close of NYSE session yesterday
2. Price created a low
3.Price has retraced during the London session
4.NYSE open volume can push price down to retest the low that was created yesterday
Bearish movement can continue until 2pm today
Price formed a high yesterday which has now become the target for today. I believe that price will retest yesterday's highs and could possibly continue bullish. If not, price may retest yesterday's highs and then start to reject.
I favor the bulls in this scenario because the price has broken its previous highs and created new ones. The 200EMA also looks like it...
Price recently broke the level of resistance and is currently testing new highs. I will not look for a buy unless price makes a pullback and creates a level of support, or starts to reject the 50EMA (purple line). A rejection (candle wick) from the 50 EMA will provide confirmation for a bullish continuation. No buying opportunity without a retracement!
Not...
Price is currently in a 338 point range. You could try to trade in this range but I will not because the price is too choppy and will be too difficult to trade. I think price will range throughout most of January.
The reason why I will wait for a break below 36245 is because the candles to the left are not ranging but are clean moves straight down.
And a...
Since May, Dow is topping, and yes, if you would have bought deeps in support you would have made money, but the overall structure is a topping one.
Looking at the increase in price, from 35000 to 36500 there is only 4% rise over 7 months, and also is clear that over 35k the index was sold.
Also, although I'm not usually anticipating a pattern, if Dow reverses...
My view of Dow Jones (US30) . Potential short opportunity.
Since the start of October we have entered this uptrend channel in which the price was moving in. We had 2 “fake outs” meaning the candle broke out of the channel but was overruled by the next one entering back into the uptrend channel. Smaller timeframes also show a smaller uptrend channel ...
OANDA:US30USD
US30USD 2021 Aug 02 Week
Rotation zone (Grey Box) short and long for Dow provided a comfortable trading week.
Weekly: Upthrust bar closing below close of previous bar = Weakness. No change in trend yet on weekly chart
Daily: Effort no Result + No Demand + last bar closing slightly below middle = Weakness
H4: Increase in bearish strength and...
OANDA:US30USD
US30USD 2021 Jul 26 Week
Gold eked out a slight high ATH at 35115.80
Weekly: Wide spread up bar closing near high, no change in trend signs yet
Daily: Decreasing volume as price creeped up = SOW
H4: Weakness has appeared, Bar A and bar after it closed off high, decreasing
volume as market moved up is also weakness.
Would expect history to...
OANDA:US30USD
US30USD 2021 Jul 19 Week
Weekly: Hidden Upthrust last week. This week's bar will determine strength/weakness.
Daily: Hidden upthrust = weakness.
H4: Bearish.
Immediate Resistance: 35111
Immediate Support 34043
Strategy:
1) Price in rotation (grey box), range 375pts. Will only take trades at either end of the
range and aim for 50% of...
Looking to take 2 trades on US30, Looking to short the market back to demand and the go long back to supply where I would possibly look for another sell or just watch to see if the market breaks for new highs.
S&P 500 and Nasdaq all these indexes broke the top that reached in February 2020 even with all uncertainty and the bad data provided by companies earning during the pandemic, except DOW 30. This index alone proves that the market is weak and once it reached near to the top that made in February 2020 the market start going down bring with it all other indexes. For...
Longing on a break of 26,840
Shorting on a break of 26,630
Utilize stop entry orders. Take profits when you feel fit.
About me:
I keep trading as simple as possible. Will not give my method but will give you entries.
Don't get greedy. Take profits quick when in green.
Let's make money together!
As we can see the stock is regularly moving in a downward direction .so it has to retrace up to balance the stocks and make a proper chart pattern .if it breaks the upper chanel the we can show a little rally in upside.
