YM1! trade ideas
DowJonesEarly signs of profit booking in DowJones coming up.
Negative RSI Divergence, followed by price rejection & now started to trade below ST EMA.
Resistance 32940
Support 32700-32500-32100
RisingWedgeJust to watch out. Caution. Technically one need to wait for the support trendline to be broken. Just posted to keep it in radar. Obviously not tradeable.
What's nextI have been wrong in predicting the time of top but expectation was always around 31200-31500. Now index has reached to the target of current slope . Volume has been dropping in recent upmvoe whereas RSI couldn't cross the previous top and 70 levels. This is not a sign of strength where RSI is trading below 70 but still market is moving up. It can move higher once it crosses previous RSI peak in the 70 zone and also closes abv the upper boundary of trend. Till that time keep close SL on positions.
No conviction in upmove ?Dow future has moved up with continuously decreasing volume. RSI in the past 3 months couldn't cross 70 and that too in bull market. It poses a serious question mark on current upmove. If this upmove is also weak then RSI could halt at 65. Weekly RSI is also showing negative divergence.
DJIA Elliott Wave analysis of correction 30-01-2021 Om Namah Shivay
DJIA 15 min chart EW analysis for the correction part.
The further movements are an assumption.
This is for educational purpose only. No Trading suggestions provided.
Om Namah Shivay
DJIA Elliott Wave analysis 30-01-2021 ( lower)Om Namah Shivay
DJIA 5th wave lower time frame wave structure. It is possible that the 5th wave is done.
This is just for educational purpose. There are no trading recommendations in this.
Om Namah Shivay
DJIA Elliott Wave analysis 30-01-2021Om Namah Shivay
DJIA 5th wave is complex impulse. We have to look at it closer in lower time frame.
Om Namah Shivay
DJIA Elliott Wave analysis 23-01-2021Om Namah Shivay
Dow is on side ways from 8-1-21. (14 days over and a new week starts from 25th )
One interesting possibility comes out as Head and shoulder and the possible 5 wave down.
This is just for educational purpose only. There are no trading suggestions in this.
Om Namah Shivay
( 'Om' = I ( the soul) )
Is Mr. Jones ready for misadventure ?DJIA future is trading near to the upper boundary of channel. 30800-31300 can still be tested before a majore correction/consolidation. 28700-28850 is the support zone in case if it reverses from present level. 8-10 Dec and ,18-22 Dec are the times zones which require careful attention for any reversal sign.
DOW Futures - UpdateDOW Futures could see 30500, depending on the election results... Will track the break out either side... Upwards will take it to 30500... downwards will be free fall..
ELLIOT FORECAST DOW (FUTURE) IN RELATION TO NIFTYAnalysis based on technical parameters(NO NOISE)
Long time....
The reason for selecting DOW under elliot forecast becoz its corelation with Nifty...although future market not recommended but still...on the opening of indian market that is the only index comes into mind...what i perceive as of now dow have not broken its high post covid level however, nifty have broken a crucial level and i don't understand "kya khaya hai" its invariably moving in a straight line on HTF...Notwithstanding if i corelate DOW with nifty and simultaneously analyse it seems...w-x-y pattern is over and 5-3-5 pattern is in prog....Nifty is in prog of a irregular Flat pattern which i think it will likely culminate towards 12226.Detail post market analysis of Nifty will be posting from tomorrow onwards...
Assimilation only for educational purpose
NEWS THIS NEWS THATDISCLAIMER:
Trading in the stocks market or futures markets is one of the riskiest forms of investments available in the financial markets and suitable for sophisticated individuals and institutions. The possibility exists that you could sustain a substantial loss of funds and therefore you should not invest money that you cannot afford to lose. Nothing in this analysis is a recommendation to buy or sell stocks or futures and I shall not be liable for any loss or damage, including without limitation, any loss of profit, which may arise directly or indirectly from the use of this analysis or reliance on such information. Consult your financial advisor prior to investing is stock market.
This is one person’s experience, your experience may differ. Past perfomance is not gaurantee of future gains.
Buy YM1 Emini $5 Dow Jones Futures CBOT_MINIBUY Dow Jones YM1! @ 27761
STOP LOSS @27671
TARGET @27871
Dow - Triangle consolidation, more likely to see an upward breakDow can retest 28600 with a stop below 20860.
The base line of ichimoku will be flat for another 11 hours unless Dow makes a new low. watch out for the breakout from the triangle pattern
