11/03/24 - 15/03/24
Welcome to another weekly analyses idea.
As my title states: The Bears Taking Over . So what are my reasons for this?
Going back to Fri Feb 23, new historical highs were created at 39281.9 at 10:00AM EST. 2 weeks later and price has failed to break those highs or even come close to it. Instead we have been on a downtrend ever since...
We are looking for selling opportunities as we are still inside a falling Wedge that will result In Sells because of the correction that in Impulse Move| 1H Time Frame
Brief Description🖊️:
The chart provides insights into critical market levels, emphasizing an essential supply zone (medium-risk sell zone) spanning from 39000 to 39060, respectively, are highlighted.
Things I Have Seen👀:
Medium-Risk Sell Zone🟠: Noted between 39000 and 39060, suggesting another area with moderate risk for potential selling positions.
Bearish...
Now I changed my view on all global Indices, any dip looking forward to buy the dip. My stop losses is in place and tight stop losses for now until it breaks last month high. I think we are in major wave 5 and we are in 3(5) in minor cycle considering Elliot wave theory.
this is just my study and I might change my view depending on price action.
Here is a look at what I am looking for this week on US 30.
Watch how we react to the HTF FVG (yellow box) and how we play the sellside liquidty.
IF we hunt the sellside we should expect it to get raided fast and hard before Wednesday.
IF we hold these levels I expect us to hunt the buyside liquidity resting around 39000
No need to hunt the price or FORCE...
trend is weak .
short can be plan ..
it can take a quick flush out if not then stay out of it.
if it does retrace from current point then the setup is invalid.
it mush go in rapid downfall.
Friday's close has given me clues as to what is likely to happen. Using only the 5 minute chart, I have come up with my gameplan on how to attack Monday. I expect it to be choppy and will wait until a pullback into my strike zone.
Scenario 1: Looking for longs on the US30. We have a brief consolidation at the moment and I'm looking for a break of structure. Remember to always keep it simple guys.
I expect US30 to continue its path up, which would mean respecting HTF Demand and disrespecting supply once HTF demand is respected! We can not see any strong bearishness which is a good sign of bullish, we can expect this bearish order flow to be a retracement after an impulse move to the upside
Confluences for US 30
- Very bullish price action
-...
The US30 has undergone two retests of the 38937.69 level before experiencing a rejection towards the Fibonacci level of 38791.60. Currently, my analysis suggests a potential retest of the 38937.69 high, forming what could be interpreted as a triple top pattern. Subsequently, I anticipate bearish market entry, leading to a break below the 38791.60 Fibonacci level...
I've compiled my latest comprehensive analysis of the stock market, as I strongly believe it offers crucial insights into market psychology, spanning across Cryptos, Stocks, and various assets.
To dispel any notions of spreading fear, uncertainty, and doubt (FUD), I meticulously outline the pattern and highlight key levels to monitor. Should this analysis hold...
As i take a look at the history of the #stockamaket we could see in the monthly we are in one large contraction phase which has been playing out since 2002. what if this contraction phase is a large megaphone where we will enter Wave 5 . #dji DJ:DJI #DowJones #trader #daytrader
US530: Riding the Ascending Channel to New Heights
The US30 index has been tracing an ascending channel on the 4-hour chart, a bullish pattern that suggests a continuation of the current uptrend. This pattern is characterized by two parallel upward-sloping trend lines that have been containing the price action.
Key Observations:
Bullish Sentiment: The...
Dow Jones / US30 has hit the top of its Channel Up.
Once the 1day MA50 breaks (has been in support since November 2nd 2023), we will have a sell validation.
In addition, the 1day RSI is on the strongest Bearish Divergence since February 2020 and the start of the COVID crash.
Sell than and target 36700 the 0.382 Fibonacci level from the top.
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