Trade ideas
#US30 Dow Jones, recovery is on card!!!#US30 Dow Jones, recovery is on cards and 32,185 to 32,900 is visible on the chart, before the next leg of correction.
Regards,
SG
us30 dow jones long analysisbuy us30 @ 29733
sl 23100
tp 32100
we are buying dow jones because market will make higher low before it will go down so time for correction phase
Dow JonesBased on Some Comples Fibonacci calculations to get the BOTTOM IN...I have given a Bottom Range of hardly 60-70 points apart. Once this Bottom is IN...... The MOVE UP on DJIA I believe will be LETHAL. Not Many will even believe the MOVE UP . Once this happens... the DJIA must cross over the 2 Areas marked in Blue Arrows. DJIA will not look back once it crosses over and will Move towards the upper 4 targets. Nothing will happen within a day or a week... So be patient as MArket will TEST YOU
Dow Jones broke Cup and Handle Neckline Dow jones can see a correction of 30 according to me from here
DOW Jones WXYXZ Pattern seems to be complete.DOW Jones WXYXZ Pattern seems to be complete even though the Fibonacci extension XYXZ is just 0.9 and not =>1. Reason being XZ retracement has completed 5 waves showing > 2.68 times retracement starting from 2nd X. But we will get the confirmation of the reversal only if 2 daily candles closes above 31021. Thus we can start accumulating good stocks in small quantities at any retracement from here.
DOW Jones can correct till 27210 as well.
Dow Futures- What next after 52 week low ? Dow futures are trading near a very strong demand zone. the possibilities from here could be
it keeps consolidating - accumulation happens for sometime in this zone and jumps from here
it retraces quickly as per harmonic to 30900 lvls and falls from those levels
it continues to fall and may come back to re-test and down move continues
the probability of it retracing to 30900 lvls looks higher due to harmonic pattern, AWAP support , demand zone plus few sellers would prefer booking something at these levels and few buyers would try to average out at these levels so that they get decent exit.
What could be a possible trade ?
Good risk - reward would be to go long with small SL of 28900 lvls got a target of 30900.
Let me know if you guys think otherwise or have any better idea
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