By checking the gold chart in the weekly time frame, we can see that the price is still in the trading range of $2000, and if the price stabilizes below $2049, we can expect more fall from gold! Note that in order to continue and stabilize the downward trend, the price must penetrate below $1974 and the weekly candle closes below this price! The price is currently...
US30 & Dow Jones indices are above the weekly Bollinger Bands and RSI overbought on the weekly time frame. US500 & US2000 are both above the weekly BBs but not overbought on the RSI. Not a sell signal but something to be aware of.
Dow Jones / US30 has broken into the 0.786 - 1.000 Fibonacci zone, which is the top range of the Channel Up since September 2022. That is the most efficient range to start adding shorts as a corrective Channel Down is expected to start in January. Wait for the 1day MACD to form a Bearish Cross. Target 35450, which is the 0.236 Fibonacci level and has been...
Hello Traders, welcome to today's analysis of Dow Jones. I will only take a trade if all the rules of my strategy are satisfied. Let me know in the comment section below if you have any questions. Keep your long term vision.
We made a new ATH in the DOW JONES so the bullish sequence in the higher time frame continues. We believe we are now working on a wave ((3)). In the lower time frame, we are observing an ending impulse.
While the channeling doesn't align entirely with my preferences, the symmetry resulting from the alternation, particularly between major Wave 2 and Wave iv of Wave 3, effectively constrains the price action. Notably, the correction spanning from 2018 to 2022 is identified as major Wave 4, which, in my assessment, appears relatively minor due to prior alternation...
When a pattern like head and shoulder fails it goes the other way AKA classic charting overall market sentiment is also bullish this can go very high easily DYOR!
Dow Jones reached the top of the Channel Up that started in late October and turned sideways. The longer this pattern stays intact, the more every pull back is a buy opportunity. The MA50 (4h) is supporting since November 1st, showing the sheer strength of this bullish trend. Trading Plan: 1. Buy on the current market price. 2. Sell below the MA50...
Dow Jones made new All Time High yesterday and today reached the 0.786 Fibonacci Channel level of the 14 month Channel Up pattern. Needless to say it is massively overbought on the 1D timeframe (RSI = 79.702, MACD = 696.100, ADX = 90.584). The sheer strenght of this rise since the October 27th bottom can only be compared to the first rise of the Channel in...
We made a new high in the DOW JONES and this has some implications. The wave ((2)) low could be in after a triple three correction or WXYXZ structure. This would mean that we are now working on an impulse. The upward structure is strong and we start to see 5 waves. It becomes less likely that the upward move is corrective. In case the upward move is corrective, it...
SPX is about to take off for a %double-digit rally till EoY
custodial paper vs bearer asset quantitative easing vs austrian economics DTCC vs #Blockchain Wall St vs Main st Corporations vs Fat protocol 20th century vs 21st century Interesting double bottom / W forming But it gives us a powerful clue for the coming year or two
SInce the price broke above the breakout pattern, the price has been moving on a strong but unsustainable inclination trend. Yes, it will most likely hit the initial target 37,242 as we're almost there. But, we also need to consider that in the next three weeks, we could have some consolidation range. This doesn't mean, we should expect a crash afterwards....
Analyzing the DXY, we've seen the last bearish phase executed in two distinct movements, hinting at an underlying weakness in the downtrend. The recent supply zone has indeed nudged the index downward. My projection? The DXY is likely to descend to, or even beyond, the previous low. Stay tuned for updates.
Hey Traders, in today's trading session we are monitoring US30 for a buying opportunity around 36500 zone, US30 is trading in an uptrend and currently is in a correction phase in which it is approaching the trend at 36500 support and resistance area. Trade safe, Joe.
Two months ago (October 11) we made a bold statement calling for "the start of a new Bull rally under our nose" on Dow Jones (DJI) (see chart below): Many traders/ investors/ market participants have been surprised by the current November - December rally but in reality they shouldn't as the index is methodically repeating the 2016 - 2017 Rising Wedge...
Weekly chart with ichimoku in MTF. Two important resistances with the monthly kinjun. RSI at 62.23 and MACD heading north. Make up your mind.
Today's focus: US30 Pattern – N/A Support – 36,280 Resistance – 36,900 Hi, and thanks for checking out today's update. Today, we are looking at US30 on the daily chart. Today's video asks if US30 will continue to track higher despite being well off its moving average. This can be a warning if you believe in mean revision. The other point we are looking at in...