US30 what a time to dump..Community discussions
US30 what a time to dump..
US30 The bears successfully closed the Daily's Gap Up earlier for them to keep dropping down. The Bearish Trendline (in red dotted line) is nearby for price action to be "magnetically" attracted to it.If the bears cross the trendline to go below it, then the market bias flips from bullish to bearish for the most profitable moves to be to the downside. They can head for the current mean reversion price of around 46,952 and more.
*Side Note:
The Triple Inside Day that showed up on October 30th led to the BIG move that was the tall bearish candle of 600 ticks (points) that's highlighted in yellow. As a bearish thrust of more than one candle, it can be be even lengthier than that.
DJ30 anybody is here?come on guys say something
US30 Where Is Everyone?!It's like a Ghost Town on Minds. If you're still alive, type on your keyboard.
Heads Up: A Double Inside Day printed on the Hourly chart. That means that a BIG move is coming, either to the upside/downside. It can show up anytime within this remaining session or in the After Hours.
*Side Note:
A new S&R Zone show formed within the tall Gap Up that still has not closed. A wick running through the lower part of the Gap does not count in Japanese Candlestick Analysis. You need an actual candle close past 47,224 to close it properly for the Hourly timeframe.
US30 This is Crazy 3.0:On the Hourly, we have a Pinbar Hammer forming with a lower wick that will need filling. Watch in the new hour if a bearish candle will do a partial or full wick fill. If not, then it can happen eventually.
So far, the lower wick of this aggressive Pinbar Hammer rejected the proper closing of the Gap Up. We'll see if a wick fill will close that Gap, once and for all.
A bullish pullback can be towards the current mean reversion price of 47,532.
US30 Taking an Assessment:Daily - Gap Up gets closed if the Daily candle closes at the end of the session past 47,313.
4-Hour - Gap Up gets closed if the candle closes past 47,297.
Hourly - Gap Up gets closed if the candle closes past 47,224.
These are the higher timeframe prices for how the Gap Up closes for each. Watch for that. If the Gap Up does not close properly, then its strong forces of support will keep price action moving above it.
US30 Trading Tip:When there's a Gap that gets properly closed, like with the recent Gap Up, there would be a generous boost to the downside. The same would happen if there's a proper close of a Gap Down, there would be a boost to the upside.
US30 Be Careful! Circled in green of the green arrow on the Hourly is a Bullish Pinbar Hammer that is a Major Pivot Low at 47,326. If the bears close past that level, then more moves to the downside. But if they can't close past that level, then back up again without closing the Gap Up.
A bullish pullback can be towards the current mean reversion price level of around 47,554.
US30 long now ;)US30 Looking at the Daily, the bears are dropping from the S&R Zone and headed for the Gap Up. Will they be able to properly close it with a candle close past 47,313? We'll see.If the bears do close that Gap Up, then can drop more to break the Bearish Trendline (in red dotted line) to drop below it, flipping the market bias from bullish to bearish.
Another take profit projection can be towards the current mean version price of 46,934. But if the bears can't close that Gap Up, then back up they go.
