US30 everyone full port easy directionDow Jones Industrial Average Index forum
US30 everyone full port easy direction
US30 Switching to the Hourly, it is in Bearish (directional) Market Bias. A drop down can be towards the Minor Pivot Low of 45,247 (shown as a circled arrow). It is a weak form of Support.Let's see if the bears can reach and breach the Minor Pivot Low. If they can't, then back up again. But if it does get breached with a candle close past that price level of 45,247, then more moves down towards the S&R Zone (that begins at 45,198) to either be blocked by or cross through to keep dropping.
US30 Is Going to Go Down?Let's take a look at the Daily. It is still in Bearish (directional) Market Bias from the candles moving below the Bearish Trendline (in red dotted line).
Here are some confirmation signs that the market has more moves to the downside:
- A Triple Top formed;
- The Bearish Trendline (in red dotted line) is a natural form of support and resistance. It has been acting as a strong rope of resistance;
- The upper wicks of four candles resisted breaching the Swing High at 45,751;
- The upper wicks of four candles resisted a breakout at the high of the Inside Day at 45,751 (shown as an orange line), including the last candle;
- This is the 3d Bearish Spinning Top (highlighted with a blue marker), that is a top reversal pattern for a coming move to the downside;
- The high of the Bearish Spinning Top is a Major Pivot High (with red arrow circled) shows that it's going to pivot for the candles to drop from here;
- There needs to be a breakout from the Inside Day pattern. The high was already rejected. Let's see if the bears can cross the S&R Zone (that starts at 44,935) to do a breakout from the pattern's low of 44,660 (in orange dotted line);
- And, the last and 4th leg of a giant M-shaped pattern needs to finish forming (outlined on the Daily chart).
Let's see how this plays out this Sunday. Watch out for a Gap if it shows up. It's when there's a disproportionaly high volume of either a buying or selling activity.
US30 Soon it will hit 44600, remember what I said :)
US30 I think the best part about this whole process is the feeling of it ALL melding together like a finely-tuned engine. Natural frequency is REAL. I didn't even think to sell today till I flipped my phone open on the train and saw that we was SMACK DAB on that bullish channel we're currently trading. This is a beautiful process if you allow yourself to be humbled.
US30 yeah, easy smoke today lol.US30 Last Call for This Session:The Hourly shows that the previous candle formed one of my favorite patterns, a Bearish Spinning Top. This is a top reversal pattern for a coming move to the downside.
You can also see that with the Bearish Spinning Top, it rejected a breakout from the Inside Day pattern's high of 45,404 (shown as an orange line). This is the second rejection from that level. The bears can then do a breakout from the Inside Day's low of 45,184 (shown as an orange line) and drop down more.
Take Profit Levels to the Downside:
45,198 - Start of Thin S&R Zone
45,184 - Inside Day's Low for a Breakout
45,173 - Swing Low
45,121 - Inside Day's Low for a Breakout on the 4-Hour Timeframe
45,017 - Major Pivot Low on the 4-Hour Timeframe
US30 A tall Inside Day pattern formed that indicates a market pause with no clear direction on the Hourly timeframe. Price action can consolidate within the pattern's high of 45,404 or low of 45,184 (shown as two orange lines) until a true (and not a fake) breakout.Also, the green circled arrow of the tall bullish candle is a Major Pivot Low, which means that after a long bearish trend, the start of either a simple or complex W-shaped pattern has begun.
US30 The Hourly, 4-Hour, and Daily are all aligned to be in Bearish (directional) Market Bias. After this bullish pullback, which can go to 45,523 or around there through Mean Reversion, it will drop back down again because the Hourly is still in Bearish Market Bias.
US30 try to buy at 45270-45220 for 300 pip profit