Bulllish continuation?Dow Jones (DJ30) has bounced off the support level which acts as a pullback support and could potentially rise from this level to our take profit.
Entry: 46,182.31
Why we like it:
There is a pullback support.
Stop loss: 45,737.88
Why we like it:
There is an overlap support level.
Take profit: 47,000
Why we like it:
There is a swing high resistance level.
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DJI trade ideas
Kwrwshmhmdy4 We saw signs of a decline in the US30 chart last week. And this decline was enough to convince retail traders to enter a sell trade and place a stop at the highest peak. And this is exactly the wrong thing to do, because the market will turn around and hit all the stop losses and with the volume that enters the market, the price will flow down. So the market will first go up and eventually fall more sharply.
DOW JONES forming a bottom ahead of the next rally.Dow Jones (DJI) has been trading within a Channel Up since the start of September and right now it is consolidating after having hit the 0.618 Fibonacci retracement level, following a Higher High rejection at the top of the pattern.
As you can see, the 0.618 Fib was always pull-back tested after a Higher High, with the 4H MA50 (blue trend-line) also or at least coming very close to. As a result, the current 4H candle consolidation is technically a bottoming process before the new Bullish Leg.
The weakest Bullish Leg of this Channel Up has been +1.56%, which more than covers our 46900 Target.
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Dow rolls over, shifting directional risksDirectional risks in the Dow Jones contract appear more balanced following the break of uptrend support earlier this week, a view supported by momentum indicators such as RSI (14) and MACD, which have also rolled over, delivering a neutral signal. More weight should be placed on price action in the near term rather than maintaining a specific bias.
If the price can hold above support at 45,762, longs could be established above the level with a stop beneath for protection, targeting the record high of 46,723 set earlier this month. Should the uptrend break lead to an extension of the bearish move beneath 45,762, the setup could be flipped, with shorts placed below the level and a stop above for protection. The 50DMA, 45,000 or 44,500 screen as potential targets.
Good luck!
DS
US30 DropsUS30 looks bearish on the M30 timeframe with one price target of 46,108.7 and a bias of 46,002.2.
The setup will be invalidated if the price breaches 46,463.5, which is derived from bearish pressure at the H4 to Daily resistance.
The high at 46,363.4 is held by the 46,417 area zone, and the bulls' momentum is also challenged by the bearish highs at 46,353.8. Overall, the sentiment is therefore bearish.
Happy Trading,
K.
Not trading advice
US30 H4 | Bearish drop offBased on the H4 chart analysis, we could see the price rise to the sell entry at 46,338.64, which is a pullback resistance that aligns with the 50% Fibonacci retracement and could drop from this level to the take profit.
Stop loss is at 46,676.09, which is a swing high resistance.
Take profit is at 45,762.38, which has been identified as an overlap support that lines up with the 50% Fibonacci retracement.
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Please be advised that the information presented on TradingView is provided to Tradu (‘Company’, ‘we’) by a third-party provider (‘TFA Global Pte Ltd’). Please be reminded that you are solely responsible for the trading decisions on your account. There is a very high degree of risk involved in trading. Any information and/or content is intended entirely for research, educational and informational purposes only and does not constitute investment or consultation advice or investment strategy. The information is not tailored to the investment needs of any specific person and therefore does not involve a consideration of any of the investment objectives, financial situation or needs of any viewer that may receive it. Kindly also note that past performance is not a reliable indicator of future results. Actual results may differ materially from those anticipated in forward-looking or past performance statements. We assume no liability as to the accuracy or completeness of any of the information and/or content provided herein and the Company cannot be held responsible for any omission, mistake nor for any loss or damage including without limitation to any loss of profit which may arise from reliance on any information supplied by TFA Global Pte Ltd.
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US30: Bearish Continuation & Short Trade
US30
- Classic bearish setup
- Our team expects bearish continuation
SUGGESTED TRADE:
Swing Trade
Short US30
Entry Point - 46297
Stop Loss - 46377
Take Profit - 46148
Our Risk - 1%
Start protection of your profits from lower levels
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Dow corrective pullback - pivotal zone!Key Support and Resistance Levels
Resistance Level 1: 46560
Resistance Level 2: 46700
Resistance Level 3: 46845
Support Level 1: 46100
Support Level 2: 45960
Support Level 3: 45840
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
US30: Target Is Down! Short!
My dear friends,
Today we will analyse US30 together☺️
The recent price action suggests a shift in mid-term momentum. A break below the current local range around 46,077.79 will confirm the new direction downwards with the target being the next key level of 45,945.23 and a reconvened placement of a stop-loss beyond the range.
❤️Sending you lots of Love and Hugs❤️
DowJones Key Trading Levels Key Support and Resistance Levels
Resistance Level 1: 46560
Resistance Level 2: 46700
Resistance Level 3: 46850
Support Level 1: 45960
Support Level 2: 45840
Support Level 3: 45670
This communication is for informational purposes only and should not be viewed as any form of recommendation as to a particular course of action or as investment advice. It is not intended as an offer or solicitation for the purchase or sale of any financial instrument or as an official confirmation of any transaction. Opinions, estimates and assumptions expressed herein are made as of the date of this communication and are subject to change without notice. This communication has been prepared based upon information, including market prices, data and other information, believed to be reliable; however, Trade Nation does not warrant its completeness or accuracy. All market prices and market data contained in or attached to this communication are indicative and subject to change without notice.
DOW JONES (US30): Confirmed BoS & More Growth
I see another confirmed break of structure and a violation
of an important intraday horizontal resistance on a 4h time frame on US30 Index.
Odds will be high, that the market will continue rising.
Next resistance - 46550
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