US30 LongUs30 is forming daily and 4hr double bottom.
buys above 34650.
look for a daily candle close near 34600 for confirmation.
DJ30.F trade ideas
Ascending Triangle in Dow JonesDaily candle closing above the mentioned level will confirm the Break out.
The levels are the expected target in the chart.
All the analysis and levels are only for educational purpose.
LONGThe summary of Dow Jones Industrial Average Index is BULLISH,
we have seen NFP came out on Friday and we had a weak dollar
which drive the dow towards the upside.
Price is currently at a major resistance where we can see sellers
drive price back into 33631 nearest support, or 33315 support area.
pay attention to price action and keep and eye on US30
US 30 Dow trade setup againWhile the market is going to break the trendlines, i broke before but did not gave the move for the downside, now the time is to jump for this trade with Risk management.
Trade setup US30 Dow jonesmarket is positivw, however it is not pushing price upper side & we can see a trendlines which is broken for the dowbn move.
US30 Shortus30 forming a higher tf double top.
sells below 33550 as it breaks and closes below the neckline.
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Dow 3000 point upside comingJuly 5, 2023, IST 11:32, PM
Dow formatting invert head & shoulder pattern, if index sustain above 34500 then 3000 points is awaiting on upside & it will be coming in next 4 to 6 months. I believe is index is consolidated more than 9 months in between 34500 to 33000, now it's time to breakout where RSI is perfectly stand near 55, so price has strength & space to reach at higher side.
D@TRADER
DOW : RECOVERED H & S PATTERNDow had completed H & S pattern briefly it traded above neckline and then retraced. On 26th June it formed indecisive candlestick and next day it made huge green candlestick confirming rising star like pattern. long was initiated on confirmation candlestick pattern, and pattern target was set to 35k if Dow regain neckline and trade above it. Today Dow had broken neckline and is trading above it from last 3 hrs. Also it was noticed , Dow is now completing Shark pattern whose target is 35k.
Conclusion DOW is Hedding towards 35k
buy dow 34000 pe and make some money buy dow 34000 pe and make some money beacause it crosses 200ema in 21 min good for scalping
DOW NEARING NECK LINE. Timely reversal of bullish view from bearish helped to grab 300 points. Now DOW is near to H&S neckline @ 34200. Trade above it means H&S patern target on browser in few weeks. H& S pattern target is calculated distance from near shoulder to head. i.e 1000 points that works out to 34200 + 1000 = 35200.
DOW ; Next 35KPreviously it was bearish view on DOW, but after break out of resistance and continuously trading above resistance line. Dow completed h & s pattern, traded above neck line and again break down neck line force to keep bearish view on DOW. But on 27th June Dow took support of 20 dema which crossed 50 dema on same day forced to change view from bearish to bullish.
After looking previous pattern Dow traded it seems that adow may complete shark pattern, which target is placed at 35 k. Confirmation will come when Dow starts trading above neck line which is placed at 34200.
Next week data will affect Dow performance. If. Data is in favour of market then Dow will break neck line and continue its journey to 35 k. If data is negative then Dow may retrace below support line . If it happen then Dow can come up to 32 k.
DOW ; REMAIN NO SHORT CANDIDATE.Rising star formation at 20 ; 50 dema with today's long candlestick formation makes DOW long candidate. As said shorts sl has triggered as said if Dow cross yellow resistance line. Till now candlestick is not complete, but if it rade for more 1hr here then rising star pattern is confirmed. Long position can be taken.
DOW FAILED H & S PATTERNDOW completed its H & S pattern, tried to move above it and then again came below neckline. Now for short traders it is a visible and concrete SL .
Mac D is below signal line which is sell signal but 20 DEMA has crossed 50 DEMA which is bullish sign. So, there is confusion.
Short term support line joining lower high is showing next lower high is placed at. appx 33200.
DJI target 48000 to be touched in june 2024DJI wave theory analysis on weekly basis: presently Dow in wave 1 & making triangle pattern or complex (clue; Dow making HH & HL). whenever DOW will break it BD base trend line ,that time wave 3 has to be started & it should first target 1.68% of wave 1. than it to be take time & correction downside unto 38% of wave 3. again when 4th wave to be completed once its target to be 48000 in 5th wave.
This is educational purpose only
dow approaching support areait has given a weekly close just below .786 and .5 level of the current uptrend. Most likely it should continue its upward rally. A break of .618 might indicate trend break. 0.618 will be a good buying level with a minimum stoploss below which a good short position can be taken.
DOW COMING TO INTRENSIC VALUEIf we see Dow on monthly basis then we see
1. Parallel channel from 2016 moving in upward direction.
2 Wave A,B,C,D & E completed.
3 Wave 1 2 3 4 completed and now wave 5 is in progress
4 Index is moving downwards along with lower high trend line which is crossing short term
support line from 2017 onward at wave 5. On Dec 18 and Oct 22 Dow had reversed its
downtrend, had not yet came below it. Since this line is crossing lower high down trend line
at wave 5, it had become strong support line. Here Dow value is within long term channel and
so it is within intrinsic value.
We have discussed why channel is known as intrinsic value channel earlier. And from todays candlestick formation which is not able to cross lower high down trend line, seems to break support line @32600 and trying to touch 31600 support where it complete wave 5
Here Triangle B also gets completed. So completion of triangle pattern and wave 5 @31600 makes this level very important.
Conclusion Dow is slowly coming to its real value. Right now it is trading with extended value.
IMPORTANT BUY/SELL zones for DOW JONES ahead of powell speechTVC:DJI sharing important buy sell zones derived from analysing resistance/support zones on major timeframe to smaller time frame study.
dow has been struglling to move upward since it entered the monthly/daily sell zone and resistance are which dow has been unsuccefull to break since few weeks in past, unless we get something positive and strong news , dow may remain sideways or retest the support/buy zone belowe current market price before moving upside again or
if the news outcome is bad and worrysome, we may see the supportbreak under panick selling pressure and dow may drop till the next buy zone .
