$40,358 all-time highs was printed at the beginning of the week but a drastic sell-off led YM to sweep below the Feb 14th bullish fair value gap @ $38,909 before a late friday retracement. Inverted fair value gap between the 18-20th Mar 24 has been attacked and respected on the Friday so I will be keeping a close eye on YM to see whether it could be the first...
YM (DOW 30), 4 Hour, Indicators: This is what I need to see turn to get confirmation on our short position up here. The 4 hour is still locked in "embedded" mode on the slow stochastic. My bet is that this is going to come off "embedded" and in the process swing back to the middle of the Bollinger band. . . if that happens, that would take us back to 39921 . . ....
YM (US30) 4 Hour, Fibs: Traded the first bear fib after the double top and saw it trade past its objective yesterday. The Dow has been one of the weaker indices of late, after outperforming most of the year. It didn't even make it up to the 50% line, selling off at the 38.2% line in the initial down move. Then, yesterday, on the rebound, it traded it's halfway...
I've been saying for some time now that Dow Jones has _no_ relevant resistance till 40k and now here we are If that resistance fades quickly then the next relevant resistance is at 45k and probably most retailers will come up with excuses to short it the whole way there also "But how did you come up with that number?" See for yourself heh this is a very clear...
If you look at the 4HR, US30 made a clear Smart Money Reversal, and we are going for a second phase distribution, aiming towards Previous Monthly Low, & external Sellside liquidity. We also have a bullish Fair Value Gap below that external liquidity, which could indicate a point of reversal where the sell program would be done.
I will try to formulate a gameplan for Friday's NY session for a possible day trade Starting with the daily chart Price was in a spike and channel pattern that just got broken out of with its 850 point drop from its high of day. This is a sell signal for people that trade the daily chart. Thursday surged off of the daily 21ema and the 21ema is now curling...
The S&P 500 and Nasdaq closed higher on Wednesday after data showing the U.S. services industry growth slowed further in March, but the advance was limited after Federal Reserve Chair Jerome Powell indicated a cut in interest was still not in sight. Most of the major S&P 500 sectors advanced, led by gains in energy materials and communication services . Powell...
US30 BAD: 1.)Forgot to check NEws then TRaded before news: Rookie Mistake 2. )Didn't have a stop loss in place at 10am due to thinking time was available for a stop order and did not check news. News hit at 10am and ran the market higher while in a sell. Horrible trading execution. 3.) Got up from a trade due to a phone call distraction and have to move stop loss...
3rd Day trading was rough. Missed opportunities and human error has caused some imperfect trades which cost us Money. Trading account in recovery mode only on Day 3!!!
wick low live Trade idea world championship trades on us30
Hello. I am the forescastah. We are all in some form our fashion. We try to use ours minds to predict price movement. Here are some of my thought on US30 today as we trade the third day of the world cup of Trading.
Markets have been selling hard recently. Done well with shorts but starting to feel it's a bit too easy. Would be much more comfortable shorting into a rally. This may or may not come, but at this point we can prep to trade momentum setups long if the bear move fails and then plan the retracement trade.
We kept it short and sweet last week and my short term projections delivered just before reversing to current price now @ 40,140. YM trading back into the median of the weekly range is still considered as a healthy retracement in a overll bull market. It's also in-line with ES short term shorts. My philosophy is simple... Fortify Michael J Huddlestone's...
Using the teal line as the mean, every time price moves roughly 650 ticks above the mean, it snaps back. We are pushing off the mean now and I believe will continue bullish up to 40,500 which is roughly 650 ticks above the mean. Monday I expect a bullish continuation higher. After the move is complete, I will be looking for the revert back to the mean. I don't...
The Hourly Chart's 200sma is the same as the Daily Chart's 21ema Price is mean reverting back and forth between the mean Price is above the Hourly 200sma/ Daily 21ema, Bullish Price does not respect the Hourly 21ema and trades back and forth between it. The Hourly 21ema is the same as the 5 Minute's 200sma The 5 Minute mean reverting back and forth above...
Similar to ES1!, I am expecting next week to be forgiving as we have seen a huge bullish run to 40316 without a retracement to the weekly EQ @ 39703 which I do believe is a strong possibility. Any major movements, I will update this analysis. 39767 is t1 39703 is t2 My philosophy is simple... Fortify Michael J Huddlestone's concepts that I have studied to...
A couple of pieces of information that I think will cause a sell off down to 39,150 A declining Hourly 21ema A gap at 39,150 A rising 200sma that has been poked through last two times Ramped volume from the FOMC 600 ticks seems really excessive for one session. Maybe two sessions. Do I go for the throat and hold for a massive trade or do I take the base hit...
4 hour chart: trend, cycle, and momentum are all up. 1 hour chart CCI is above +100 and the trend is up 15 min chart: trend is up and support is at the 50 SMA this is also the 50 SMA on the 1 hour chart 1 hour demand zone RBR formation $200 risk with 5 contracts