US30 trade ideas
Dow Jones ShortDow Jones trading at upper range of trendline currently and are resisting to cross from last 5 trading sessions, if it did not cross then you can take a short trade below the recent low with stop loss of current recent swing high.
DJI Bullish Butterfly PatternDJI Bullish Butterfly Pattern
PRZ 1 - 29018.55
PRZ 2 - 28990.27
PRZ 3 - 28850.85
US30 Make or break levels for bulls. Trend is about to break.#US30 is at important trend line.
breakdown could lead to massive selling pressure.
US30 SELLSA third touch on the top resistance line showing rejections. The market is failing to continue going up while minor bullish structure has been broken. A good opportunity to go bearish is approaching.
DOW JONES PREDICTIONWhy analysis of DJI?
It is mostly seen that Indian markets follow US markets as FII infuse lot of investment in our markets. However there psychology is to follow the trend in US markets. However it is not entirely true as Indian markets do spring to life and at times do there own trajectories. eg In end Sep DJI touched its pre Covid levels of 28700, however Indian markets were at 15300 much away from pre COVID levels of 12400.
However the similarities of market structures can't be ignored, both of the indexes had a similar structures of HH/HL & LL/LH. In a globalised world the interconnected things can be easily seen. Whats next?
On monthly chart DJI has formed a flag pattern with two point touch at the bottom of flag around 31500.
Twin Trendline Concept
First Trendline. On weekly charts, following twin trendline and four point touch concept is elucidated on the chart. The first trendline clearly shows touch points at apr 22, aug 22 & oct 22. Thereafter at fourth touch point Nov 22 there was a breakout seen and DJI made a high of 34800. The first trendline also has acted as support twice in Dec22 and mar 23.
Second Trendline. The touch points occurred at 34800 in Dec 22, 34300 Feb 23 & going by the geometry the fourth touch Pont should happen in Apr 23 at 34000 levels.
This will entail a 2200 point move from current 32717 to 34000 levels. Of course this will be not a straight move but it will have some zigzags.
Price action.
Montly charts - Flag patterns
Weekly Charts - Two consecutive Green Candles
daily charts - W structure which is a bullish structure is underway.
Future Likelyhoods. There may be reaction at fourth touchpoint and thereafter in May/Jun there will be breakout to touch the top of box 37200.
RSI analysis. On monthly charts RSI is above 50 levels, on weekly charts it is 48 and daily charts at 51. RSi is supporting an upmove.
Overall Analysis. DJi should touch 34000 levels based on price action, price pattern, twin trendline concept and RSI. However any crisis emerging at geo-political levels at economic or military will negate this hypotheses and DJI may head southwards.
Modelling and simulation are important to predict the future movements. However they will always remain prediction with no certainties. Markets like GOD have their own ways which are difficult to fathom. But human endeavour must continue for TOMMOROW is always ANOTHER DAY!
Views Welcome.
Regards
#DJI Looks like to range bound.Need some consolidation here.
Any further down move would be opportunity for buy the dips.
Dow Target 32000once again Dow price rejection at previously discussed several times as resistance and distribution area as shown in chart. Rejection is very clear with diamond pattern indicating bearish trend towards target of 32000 which is previous seen support.
DOW JONES prediction with levelsDJ:DJI dow can bounce back from current support zone of 33340/33275, if breached then next support zone will be the target.
DOW JONES upside prediction with levelsDJ:DJI dow jones can go upto33630/33690 above 33543,
if breaks 33699.87 and styas above it, then dow can reacy upto 33862/33902 levels.
Bearish Gartley In DowjonesPerfect Bearish Gartley
Sell Dowjones Between 33113 - 33353
SL - 33601
Target - 32900 / 32700 / 32500
dow jonesI have made a MINOR ADJUSTMENT on the wave counts of the DJIA.... @ marked in BLACK..... Its just a minor wave and nothing to be worried about..... Follow BLUE with Black as Minor Adjustment
DJI Range Breakdown DJI has broken down of a range consolidation and as per range the downside targets are marked on the charts.
Most of the other details are clearly marked on the charts and overall weakness is visible in post today's candle close in US Market
Previous DJI analysis are linked in related idea section
Dow JonesI had said repeatedly that the DOW had made a Low and was headed UP..... Marked are the waves on a Medium term basis..... which I think will happen on a SUPER QUICK basis.... Enjoy the Best days in the Stock Market
dow jonesdow jones - us - 30 corrective wave forming in sub-wave impulse complete and sub-minute continue
dow jones shortDow jones short,
enter at 33380-33410,
stop-loss at 33430,
first target at 33300,
thank you.
Dow at Supply ZoneIn charts its clearly distribution and supply zone added with headlines of recession headlines indicating more down side for Dow
for a long term view.....during study SMC my short analysis is that us 30 would fall sharply from the marked level ....
DowJones at Resistance Dow Jones in clear downtrend reaching now major resistance level to downtrend line ,Expecting price to fall from currel level area to lower levels of 32500 to 32000 this week.
