We may see a bounce in dow jones because as we can cleary see a bulish abcd pattern in dow jones.
but we have to keep that dynamic trend line in our mind, which is acting as a proper resistenece for dow.
Asper price action we can see reverse head and shoulder pattern and also as per ict grab liquidity at weekly support level and can't stay blow it... So we can see price will go up because buyers showing intrest to buy it. It can be make new life time high.....
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
I have analyzed based on trend, candlestick, support & resistance. After combining three method i came to this projection.
It is for study purpose only not a recommendation. If it is helpful please share and like the page.
I have entered a short side after breaking that cyan line. And target is the below CYAN line. I have used trend, pattern and price range. Its very volatile market. Always maintain a SL.
Referred to one one-hour chart, the Dow (US30) seems bullish:
# After rejecting sell side stops, closed above the nearest swing high.
# Breaker Block.
# Fairly taken inducement.
# 3 points confirmation alert.
Note: This is not a recommendation, or educational purpose only. DYOR before taking action.
The B leg that went deep 95+% of A then failed tells us its flat correction.
After doing year long correction breakout in Dow was seen in Dec 2023
Good Chance is to have sharper up move once retest is completed.
Internal wave count may not be accurate and best if ignore, focus more on support area near breakout point.
Let me know your thoughts below
Support zone: 37300-37600.
Dow should take support and should consolidate at current levels. Stoch RSI looks pretty sold out. If it cannot sustain this support due to any unforeseen circumstances next support is at 34122 which is highly unlikely. On upside first target is 38928, then 39913.
DJI Trgs on chart . These angles are plotted based on some Gann technique. Falling below one angle expect price to move towards lower angle. These angles also serve as support & resistance. Positional view - Trg 37038 atleast. 26th April imp date - will update there.
cmp dji - 38590
mostly down due to feds hawkish and global cues i see it as knee jerk reaction .
rsi was at 7 and 20 in low time frame but steep correction is buying opportunity
target - 39000/400/800
just a educational idea and not a trade idea.
I have analyzed DOW market based on the previous price range. It was a very fast and furious fall and reached the target(Apple). Taken Wave and chart patter and all time high in consideration.
I have analyzed Dow market based on it previous waves price. And i have considered the time also. It has formed a double bottom and bounce back during FED meeting. But i am expecting it to go down touch that point again(i:e Red small apple)
On Our Harmonic pattern indicator based trade setup take trade as explained below :-
Early trades Buy or sell below/ above 23.6 %, safe trades buy or sell above / below 41% , after taking trade next upside or downside levels will be target ,
When reverse buy or sell signal appear then book profit on Target or trail SL to 23.6 % If trailing SL hit then early...
As per limited study April and May should reward bears.
Inittial signs of DJIA topping out is seen with my Time and Price study.
Rest market is supreme.
SL above 39889 (Weekly closing basis)
Downside 3000+ points positionally.
The current market cycle looks eerily similar to the 2005 - 2010 era.
Dow started going up after the last rate hike in expectation of a rate cut and eventually peaked around the time the cut started i.e. Sep 2007.
Very similar behaviour is evident in current cycle where market has been rising since the last rate hike. If the Fed cut is expected in June 2024, then...
a clear fvg and oderflow or instutation level is seen in us30 .
if it retraces back and valid our setup by rejecting the block the short can be plan.
targeting the daily low.
note : setup will be invalid if it first wipes out the daily liquidity (below line) or selll side liquidity.
the us30 must retrace back from here toget a valid sell.
