US30 trade ideas
DJI - CMP: 34150 Wedge Breakdown possibleWedge pattern breakdown possible. Closing below 34150 can drag DJI to a lower level up to 30600.
DOW Futures - Long entry DOW Jone future has been trading in a range for last few weeks - 33300 being the lower of the range and 35100 being the upper of range
during this consolidation - 50 DMA has acted as strong support and 20 DMA is acting as a dynamic trendline for DOW Futures
Possibilities
Strong possibility - during the consolidation of such magnitude it makes sense to test both lower and upper range at least once. it has tested lower range possibility of testing higher range would be very high
34500 is the magnetic price line for this range.. more than 90% of candles has touched this price point during consolidation.
Long Entry - whenever DOW futures test 50 DMA
SL - close below 50 DMA on a daily basis
Target - 35100
Dow Jones- Critical JunctureDow Jones is trading at a critical juncture. Any close above 35200 can lead to a new rally which could be very big. A break out the trendline could result in it coming down to 29400 levels which is 20 EMA. This could impact all markets.
Dow Jones will show you Targets given in chartDow Jones may show you targets as shown in chart within 3-6 months
dow jones bullish sharkdow can bounce off any red lines as for shark pattern lower range can be 1.13-1.618 for now it is trying to bounce off 1.13 . let the price action do its work
US30 W pattern on 2 hour chartget ready for bounce on US30
almost 500-600 point bounce is started now.
