DOW JONES SHORTLooking for a BreakDown
Sitting on Knife's Edge
Atleast a 500 points Break Down from here
Djianalysis
Dow Jones Industrial AverageDJIA is at the PRZ of a Bearish Harmonic Butterfly which suggest it could retrace till 27000. Pattern would be negated above 28600
Harmonic Trading Patterns work as reversal signals based on Fibonacci ratios, Butterfly is one such pattern.
WILL DOW CHANGE ITS UPWARD TREND TODAY !!!COMPARING MY LAST STATEMENTS WITH THE ACTUAL MOVE ON 18-5-20
1. In point no3. of previous post regarding movement of dow I talked about down side movement from monday onwards. In point no.4. I gave the condition of positional short trade if it gets fullfilled only shorts can be initated . But unfourtunately it did not complete my condition of taking short. Therefore, no trade can be executed on short side on monday trading session. As you can see in fig. that dow open gap up exactly on the upper end of red dotted band of zone. I also mentioned If swing high is breached then shorts sentiments will convert into longs. You can see that with such bullish sentiments dow could not breach Z point swing high.
2. Therefore , chances of going down are still present. If on opening gap up from that point then long will prevail. On the other hand if gap down open then one should wait for dow to short breaching dotted red zone lower band.
3. What I feel is dow tested upper swing to give flase bullish impression. That would be confrimed in fist trading hour. Rest market will decide.
YOGESH VATS
DJI will face stiff resistance around 25200Looks like it will be a quite tough to break 25200 levels
DOW HAS STARTED ITS FINAL JOURNEY TO UP DIRECTION SEE HOW!! UPSIDE JOURNEY OF DOW JONES STARTED TODAY
1. DOW MADE UPPER END OF RED CHANNEL IN FIG. FEW DAYS BACK. BUT IT WAS SEARCHING THE LOWER END OF CHANNEL WITH PERFECT ANGLE . TODAY THE LOWER END IS FORMED. LOCAL DISTIBUTION IS GOING ON. VERY SOON JOURNEY FROM CHANNEL END TO WHITE ZONE OR UPPER END OF CHANNEL WILL BE COMPLETED.
2. AS YOU ALL KNOW STOCK MARKET IS GAME OF PROBABILITY SO ITS LANGAUGE IS CONSIST OF CONDITION (IF) THAT YOU SHOULD KEEP IN YOUR MIND. A BLUE COLOR LINE IS GIVEN THAT IS SUPPORT IF BREACHED THEN LONG SENTIMENTS WILL CHANGE TO SHORTS.
3. THE LONG STRUCTURE WILL DISTORT AND CONVERT INTO SHORTS. ONE WHO IS ABLE TO SWITCH ONE'S SENTIMENTS AT RIGHT TIME BECOMES WINNER OF TRADING.
4. THIS WOULD BE THE FINAL UP JOURNEY. AFTER THIS LEG DOW WILL RESUME ITS INTERMIDIATE TREND .
5. LEARNERS SHOULD UNDERSTAND THE FORMATION OF CHANNEL. IT IS ALWAYS NOT ESSENTIAL TO FIND CHANNEL FROM LOWER BAND. SOMETIMES LOWER IS FORMED LATER.
REST MARKET WILL DECIDE.
YOGESH VATS
DJI @ Major Supply ZoneDJI closed @ 22645.
On the upper side, there is a major demand zone @ 22600-23250. We may see higher levels if it will sustain above this major supply zone.
SHOPIFY KEY LEVELS SUPPORT AND RESISTANCE 04/06/2020Key Levels for SHOPIFY INC NYSE for INTRADAY TRADING are :
Upper Breakout~363.50
First Target~370.30
Interim Resistance~378
Final Resistance~384.80
**Lower Levels**
Lower Breakout~351.55
First Target~345.60
Interim Support~339.60
Final Support~334.80
Please trade with caution and consult your financial adviser before trading.
SHORT SIGNAL ACTIVATED - DJI ( DOW JONES INDUSTRIAL) *A very strong Resistance @ 21200 which made a strong reverse pull candlestick to touch previous day close even surpassing the gap.
*A well suited ABCD pattern which is supporting our decision.
Dow Jones (DJI) weekly chart study - Megaphone (Broadening top)Dow Jones (DJI) weekly chart study - Megaphone (Broadening top)
Chevron recent rally may be just a corrective pullback.Chevron Corporation: The move up in the last couple of sessions seems to be a corrective pullback. The RSI is now at the bearish extreme zone, the candles are forming bearish patterns. The prices have also closed below the KS & TS lines. The trend down is expected to continue. A close below 115.5 will confirm the trend.
Dow Jones Intra trade setupDow opened gap down and has corrected up for the day. It now provides a good shorting opportunity once the down trend resumes as shown.
Dow Jones /DJI seems set to make one of these two routeDJI will probably take one of these two routes - Curve A or Curve B. Comment what you think looks probable. The three trend lines extend from Feb 2013
DJI weekly chart analysis1) Dow Jones Industrial Average is still above its 50 week EMA.
2) It has formed a double top with a bearish divergence on RSI and Stochastic oscillator.
3) An ascending triangle formation is possible is the lower trendline is not violated.
Dow Jones Bullish Breakout of trendline.After Long Consolidation Dow Jones has given a breakout of its daily and weekly trendline. Short Term target 26000.
Dow Jones Positional TradeShort below the red line for a 1000 point downmove.
Go long above the green for a 1000 point upmove.
In today's age of advanced technical drawings and analysis. I have decided to stick to the absolute basics. Will keep posting such charts for reference.
