Dow Jones very bullish head and shoulder breakoutDow Jones given breakout of head and shoulder pattern
US30 trade ideas
DOW REVERSING FROM RESISTANCE30th January,6th, and 13 Feb week were indecisive weeks at 34387. Today Dow had reversed from the same indecisive level which means Dow is not able to take out that resistance. Dow is looking like a shooting star bearish reversal. If Dow ends up with this candlestick pattern then With Sl of 50% of today's high and low, a short opportunity arise. Having said that extended candle above the up-trend channel is not tradable, today's 300 points fall is the answer.
Dow jones Index Dow jones 34250
Index is facing price rejection around 34350-34600 range.
If index is not able to cross above 34600 range and sustain.
Pre assumption of harmonic pattern formation, resistance as per previous swing high levels.
would act as stiff resistance, reversal from current levels would lead to steep selloff in index.
down side levels of 32500-32000-31500 possible..
Bulls time be cautious
IF DOWJONES MANEGES TO BREAK ABOVE?Dowjones made inverted head n shoulder pattern on weekly scale, although its not confirmes yet, If Dow manages to break above 334250 then it ll get into one sided bull run.
Lets wait patiently or sell on very rise with stoploss above 34250.
Exit all short positions once it gets past 34250.
dow jones weekly wedge pattern breaks out again abc pattern and market forming in wave b b wave mean corrective wave
2nd wave making complex wave with triangles pattern. 2nd waves t2nd wave making complex wave with triangles pattern. 2nd waves take more time than wave 1
buys US30US30 is at a strong resistance area, on Monday price was unable to push to the upside and retraced. Now price is back at the resistance area, i believe we shall see more buys towards 34136 if price breaks out.
LONGAs we look we see change of character to the upside so we buy and wait. For more Ideas please Like and Follow.
DOW CONTINUES TO FACE RESISTANCE As per previous analysis Dow had not broken cross resistance as discussed. Today last 3 hrs on 15 min TF Dow is struggling to break lower high trend and uptrend parallel line. Point to take is cover shorts above today's high. Parallel uptrend line (yellow) which had started from 2017 is a long-term uptrend path of Dow. Parallel channels are also path Iindicator of index which trade in all seasons of economy. Index trading above the Parallel is to be taken as expensive and due to sudden change in economic or fundamental activity/news. It latter need to correct. So entering long above the path is not suggested. But for safer side short should be covered. Or hedge should be taken. Trading in option is not easy job. It needs experience and expertise. Next view will be after Dow decides where to be ,above channel or below channel. Also said 0.318 and 0.500 levels are target if Dow holds resistance, that view is open till now.
DOW RESPECTING 50DMADow as analysed had reached 50Dema where 100points are in pocket. From here Dow can take support at 50 Dema. Booking 50% is good idea. Rest can be carried forward with trailing SL. Dow can come down to meet 20Dema if 50Dema is broken. Normally 50Dema is good support but 20Dema is below 50Dema which suggest a sell signal. This trade is very eassy as price has ran above sell segnal ie( 20Dema crossing below 50Dema ).
DOW COMFORTABLY SALE ZONE.Continuing yesterday's analysis, Dow is trading below lower high trend line , it is also below uptrend parallel chanel resistance. 20 Dema is placed at 33450,where short term partial profit can be booked and balance can continue with trailing SL as per individuals risk.
DOW : SHORTS WILL BE REWARDED.Previous analysis it was given to hold as Dow was on cross road of uptrend channel's and lower high trend line resistance. Yesterday after spending 30 min near resistance it gave up 200 points. Dow had respected the cross road resistance.Now from here keeping yesterdays high as SL, one can short Dow. Support could come at triangle " B " where 0.382 fibonacci level is placed @ 31100. The reason for going short with 200 points SL is
1 Any given stock / index always trade in line of support and resistance and in this process Geometrical shapes are formed. Father of stock market Mr Wilbert D Gaan have heavely relied on geometrical pattern.
2 If we see after yesterday's fall it seems Dow is on way completing triangle "B" which is 1/2 of triangle A+B. Triangle "A"being lower part and B being upper part. Lower part is complete and upper part is under construction.
3 It can be seen that after 700 point rise and 200 point fall this triangle B started looking incomplete, which will be complete at Point H.
4 but before it we have fibonacci support of 0.382 level @ 31100 and then on upward journey at 0.500 fibonacci level @31700
5 This a Analysis will be void if Dow starts trading above lower high trend line.
Dow on cross road on weekly TF.Looking at weekly chart from 2017, Dow is was trading in a uptrend channel.Jan 2018 was first top made of channel at "A" , At " B" it made the support line. At "C" it made the second top, At " D "1st bottom was formed. At "E" Dow break out above channel in January 2021, This was period of ultra low policy, and packages for companies people's due to pendamic. Dow broke it's trend channel and was trading above this channel till May 2022. Dow gave life time high of 36700 .( The first high. )It came within the channel after May 22 and took second support at F ( we call it as support line from 2017 ). It made second lower high at Dec 22, and from red line one can see Dow had not gone above red line which we call it lower high downtrend line. Yesterday Dow rose 700 points and in 1 day I you see Dow had touch the lower high trend lin (red) and the upper end of uptrend channel at G. So right now Dow is making lower high of33762 at point G and making higher high of uptrend channel which was started from 2017. So right now Dow is at cross road at point G. Point G become resistance of down trend line and it also at resistance of uptrend channel. This simply means wait. Don't hurry in taking entry. Yesterday 700 point move is because of debth news and no fundamental change had happenedover night so Dow should rise 700 points. If fact dollar has weeken, crude out put is going to be cut. There are many headwind and tailwind. So wait and whatch how Dow is opening today, we hawe to see followup rally. Mostly after big move market consolidate.
Bearish Crab In DowjonesBearish Crab In Dowjones
Sell PRZ - 34310/34359
SL - 34501
Target - 33750/33500
Comparing #DJI & #NiftyUS stocks rallied Dow Jones jumping nearly 600 points. Traders welcomed a mixed payrolls report showing an unexpected rise in unemployment and a slowdown in annual wage growth, despite a hotter-than-expected payrolls figure. The data could influence the Fed's decision to pause further rise in rates.
US Markets on verge of trendline breakout while Nifty is forming cup and holder breakout.
DOW : Close long positionNot much to read in chart as today Dow had touched 4th time lower high trend line @ 33618. Yesterday suggested to go long @ 32800 with SL 32700. Today 500 points is good gain to book profiit. All the views on Dow were respected. New trade will be taken on Monday.
LONGIt changed it's direction to the upside tp1 and tp2 as showed at the chart. I think it is going to range from the current price to the tp2
Dow: Taking support.Continueing hour earlier analysis, it is observed further that in above 15 minute time frame Dow had reversed from red downtrend line. MacD is above signal line on 15 min time frame. Given risky trader should wait for 30 min for Dow to trade below 32750. Dow had given low of 32739 on 15 min candlestick and from next 15 min candlestick has bounce back. This simply means buying is emerging at given level(32750). This is third time Dow had reversed from this level. Risky traders SL is not yet triggered and can continue with long till 32750 is not broken { Now SL is reduced to 32700 as low is 32739.)
Rest long and short entry remain same till this point of time. Today's close will give us clear picture.
