YM1! (Mini Dow Jones Futures) has experienced a significant downtrend recently, prompting traders to seek insights into the reasons behind this decline. In this analysis, we will explore several factors contributing to YM1!'s downward movement.
Technical Analysis:
Bearish Trendline Break: YM1! has breached a key support level represented by a bearish trendline...
Now that NFP broke bullish above the last 4 hour pivot high, price is still in bullish push phase to reach the next higher high. Looking at somewhere in supply zone.
I am looking for the next higher low pullback to be in the demand zone and above the last higher low made by FOMC.
Of course, NFP could also just be a false break and will trade back inside that...
Nobody will ring a bell at the top.
What a great selloff we had last week! I was expecting a pop higher for the sell but they just wanted to pull the rug on bulls early in the week it seems.
Pretty much everything got monkey hammered. Indexes and Oil slid while gold held in (for now). The great news is we now have a directional market to trade again - these are...
I am looking at a repeat of the previous correction back in July 2023.
Some key takeaways:
Deathcross triggered April 4th
Hourly 200sma is now in downtrend mode
Currently in a bear flag consolidation to pullback into the declining 200sma
Space under the low of the bear flag in relation to the prior pivot low
A gap that needs to be filled at the start of the...
The weekly internal liquidity has been made with buyside resting at $38637 and sellside printed at $37463 but the overall week has been rangebound.
We can clearly see that there has been a fight at the daily liquidity void with candle bodies rejecting that zone. 38344 Fridays high is my first point of interest with 38410* being target 2.
Last week Thursday's...
On the hourly chart, looking for a bullish pullback at/near the rising hourly 21ema.
Looking for a sideways consolidation to go sideways until the 21ema catches up.
The green line inside of the consolidation is Tuesday's closing price.
Stop will be 75 ticks and Target is up there around 200 ticks
A technique that I use is during a downtrend, the first pop above the 200sma 9/10 will produce a lower low and continue down to break the lows.
Price is currently popping above the 200sma
I will show you various examples of this technique from the last two years
Using this information, I will expect the lows to be broken and a new lower low will...
I am waiting for the dump back down to the flat hourly 200sma and support of Friday's close.
Depending on how Tuesday and Wednesday trade out. I will be looking at the pivot lows for stop loss hunts.
Same setup as Thursday October 12th on the hourly chart.
Same broken down market trading in a negative position.
Due to a delayed upload, my bias is neutral for the duration of the week. Initially, i was looking out for the weekly order block to be attacked, which occured before continuing it's downwards projection to the weekly sellside liquidity @ 37,675.
In my last YMM post, i stated that YM could front run the index markets and thats exactly what we saw. But this does...
Bearish on Index Futures.
- SMT at previous month's high.
- Inversion on daily timeframe.
- Monthly BISI as draw on Dow.
- ES/NQ lagging behind, expecting a run for previous month's low.
