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Us30idea

Dow Jones for a much needed correction As you guys may be aware of, the stock market has a whole has been breaking all-time highs and setting records nearly every other day it seems. Besides the fact that the market is way overstretched and in need of a correction, there are many other technical factors that indicate that there will be heavy downwards movement. US30 has just closed with a daily bearish candle with substantial size in comparison to the last twelve candles that were either bullish or dojis. Through constant observation of the index, I've realized that a sharp downwards move usually follows after a large bearish daily candle closes near all time highs. Thanks to mass Euphoria and the bubble like state the market has been in, US30 has been able to trade above 31300 for the past 6 days. There has been a lot of indication of massive bearish pressure around these highs with these massive downwards wicks within these zones. The market seems to have topped around 31711 as it has pulled back more than 250 points after touching that price area. US30 has just broken out of a huge rising wedge on the four hour timeframe and is showing a huge bearish divergence on both the four hour and daily timeframe. As indicated by my projection tool, there are many gaps that need to be filled as well. There is also a lot of fundamental factors that may incite fear in these markets. Continuing rising Covid-19 cases/deaths with slow vaccine rollouts, unemployment rates, and more possible power outages may create mass panic, especially after investors may start to see the market beginning to retreat from these highs. This may be the beginning of a much needed 6%-7% correction to return to more logical levels. Ultimately I believe the this index will drop about 2000 points all the way to around 29426 before continuing upwards again. I am already in a few sell positions and I'll be setting my first targets around 30806 and second targets around 30122.
UShort
by StealPipsSal
3
US30 10% Drop expected ahead of Election resultsUS30 ********* ⏳4 Hour chart 🎲 Possible entry analysis ⛳️ Possible bull/bear target 📚Educational —————-❇️——————- Detailed analysis 💬 1️⃣ Minor head and shoulder around September high 2️⃣ 2800.00 Key dynamic resistance/Support 3️⃣ US 2020 election outcome will be a key driver 4️⃣ .50 Fibonacci and October low bounce 5️⃣ Parabolic price move expected as June, Sep, Oct high forming a Parabolic structure 6️⃣The 02 uptrend trend line was broken 7️⃣ Technical support - Neutral Ahead of Election results 8️⃣ Short term bullish movement towards 28000 9️⃣ June high Immediate resistance 🔟 june low Possible - Bear target #️⃣ Overall Bullish trend —————-❇️——————- 📉 Technical bias-H4-Neutral Below 200 Exponential moving average 200EMA acting as immediate support - Bearish trend Possible entry point-28000 Relative strength index - Around 60 well above the neutral area MACD- Is still above the line and about to cross the line and the histogram is still green ,Oscillators are pointing upward Stochastic -at 75 Which is over bought territory Ichimoku cloud -cloud is red-Cloud Support-Bear Bollinger band- Price is around higher band-Middle band will acting as dynamic support/resistance —————-✳️——————- Key reversal area's 26000 Key psychological level 26550 September month high 26040 Dynamic support and resistance 28000 Key psychological level-Major key reversal area 29000 October month high 28000 Possible entry- Bearish 27150 -Alternative entry-Bullish —————-✳️——————- Bearish entry #US30 Entry price - 28000 Take profit 01 - 27100 Take profit 02 - 26000 Take profit 03 - 25200 🚫 Stop lose 28450 Alternative Bullish entry-27100 ⬇️ 10.29% drop expected ⤴️ Account growth 1.59 :10.29 ✅ Risk reward ratio 1 : 6.47 —————-⚜️——————- Push the like button , And cheer up if you found useful
UShort
by forexorbit
5
US30 - BULL safely playing within the upward parallel channelGood day friends. Give us a thumbs up if you like our idea. Follow my profile to get new ideas and trade setups everyday US30 From 3rd September we have seen a strong selling pressure of tech stocks which leads the downward fall of US30 and its indicates with the strong bearish engulfing candle and dropped almost 1000 points in a single day And felled below the 50,100 EMA on that day. From September-03 to September-30 its traded with in a downward parallel channel. On September 16 its managed to push above the 3EMA and suddenly fell and strayed below the 03EMA and reached September low level which is 26530. From this the bearish reversal happened and went bullish and formed a upward parallel channel. Currently the US30 is trading between the .50 And .618 Fibonacci retracement level. And the middle line of the upward parallel channel is acting as resistance for the bull. If its managed to fell below the channel means the bear will take control of the market until then the bull is remain in control. The sudden drop on yesterday is caused by the disagreement between Republic and democrats on Second round of stimulus talks. And the drop was resisted by the confluences of 03 EMA in the same region around 27650. And today US30 is managed to gain back most of the yesterday lose. And currently .618 Fibonacci is acting as resistance. My bias is towards north until US30 is staying the upward parallel channel Disclaimer Its a forecast of the next expected moves Not a financial advice
ULong
by forexorbit
US30 D1 #OutLook 22 September#OutLook 22 September Dear Traders Today We Have an Analysis Of US30 D1. This Analysis Based On Price Action Theory. According to The Analysis, We Can See That the Market On Bullish Pattern As well As Market Make Formation of the Ascending triangle pattern this indication of the market will move to continue buying But if the market will break out the trendline this indication of correction. We have a Tow target level 1st for buying target(resistance) @28985 2nd for selling target (support )@24969 I Request to All Before The Trade You Also Match You're Analysis With As If You're Set up Match Then You Can Trade. Thanks Regard Enclavefx technical group
U
by Enclave_fx
US30 is trading in rising channel Another sell off is coming📍 Dow jones industrial average is comprises of 30 TECH stocks. US30 is traded 2020 yearly high around 29600 which is also a February high. After the long upward rally from 2016 until 2020 February it has moved up gradually. And there is no major drop one like happened in 2008 financial collapse 📍 Due the COVID-19 breakout in the USA the economic is came to standstill and lockdown measures area taken this causes Tech companies faced major blow. And the market is sell off until march 23. After that US30 has gained back most of the earlier loses incurred during the initial period of Pandemic situation. And reached almost 2900.00 level 📍 Currently US30 is trading in a upward channel which is called as rising channel and it has reached the slow down phase. We may expect a brief breakdown of this indices 📍 In longer timeframe it hasn't reached the 23.6% Fibonacci retracement level which is comes around 26900. This level will act as resistance for the bear 📍 The price is currently trading nearby the August low level-27200. 50 Exponential moving average is still holding this pair from May-14 if the 50EMA level broken then 200,100 EMA will act as resistance comes around 26400 📍 On Ichimoku cloud the middle line is acting as support for the bearish trend and the Cloud is gradually fading towards red zone 📍 The swing target would be around 23900 which is comes around 50% Fibonacci retracement level 📍 On Elliot wave theory the Major 5th wave is completed and the minor correction waves are currently forming. Within wave 4-5 we can see minor waves from 01-05 📍 RSI is went below the 50 mark and in MACD it has turned red and the oscillators are pointing towards south In H4 timeframe we can see a downward falling channel with series of HH LL LH and the price felled below the 50% Fibonacci level. Strong bearish engulfing candle is formed on August 07 after that the price stared to fell Please give us a thumbs up if u like our work and do follow us so that you can get a regular update about upcoming setups and ideas
UShort
by forexorbit