DJI30 39000 looking weakAs I posted earlier about DJI30. It’s now tested 39000 multiple times and looks extremely weak. A break of this will accelerate a sell off. Look at my previous posts for major levels. THIS IS NOT FINANCIAL ADVICE. Shortby SpaceCadetAcademy1
Good analysis, good idea, hope it helps youHello, trader. The bearish trend is currently very strong for DOW JONES - MINI DJ30 FULL0624. As long as the price remains below the resistance at 39,463 USD, you could try to take advantage of the bearish rally. The first bearish objective is located at 38,537 USD. The bearish momentum would be revived by a break in this support. Sellers would then use the next support located at 37,991 USD as an objective. Crossing it would then enable sellers to target 36,795 USD. Be careful, given the powerful bearish rally underway, excesses could lead to a short-term rebound. If this is the case, remember that trading against the trend may be riskier. It would seem more appropriate to wait for a signal indicating reversal of the trend. MY OPINION BEARISH UNDER 39,463 USD MY TARGETS USD 38,537 (-1.56%) 37,991 USD (-2.95%) Happy trade by Joe-ChigoraUpdated 5
DJI30I believe that the DJI is set up for a major correction. Looks like a double top has formed. I did 2 different fib lvls. Red lines is 2008 low to this high and orange is COVID low to this high. Lvls clearly marked. Do what you like with this and I could be wrong. THIS IS NOT FINANCIAL ADVICE Shortby SpaceCadetAcademy1
CHART BREAKDOWN US30: Key Levels, Targets and Thoughts!🎯Brief Description🖊️: The chart provides insights into critical market levels, emphasizing an essential supply zone (medium-risk sell zone) spanning from 40050 to 40090, respectively, are highlighted. Things I Have Seen👀: Medium-Risk Sell Zone🟠: Noted between 40050 and 40090, suggesting another area with moderate risk for potential selling positions. Bearish Targets📉: 40000: Possible retracement area. 39900: Possible retracement area. 39800: Area with laying low liquidity. Ultimate Target: 39600- Essential Demand Zone What's Important Now❗ Currently, the crucial approach is to wait and observe the price action at this level. We need to assess how the market reacts before considering any decisive moves. Stay observant and responsive to real-time developments in the market.Shortby TTradessss32
longer term dow trend linesee nov 2021 and jan 2022 peaks. this line is likely to be tested again.by sunriselmi0
Us30 potential long to end the week Nice range to retrace back into the 4hr Order block to take higher Paytience pays Longby Onlypips4xUpdated 113
DJI Double TopI don't use Fibs but was curious if the lines I had drawn will show up and they do nearly perfectly. I don't use fibs, I use my eyes, and well, maybe I'll look at fibs more as they detected/predicted the same levels. I shorted DJI under 40k thursday pre-market and held the short to 39k Looking at DJI as it has no NVDA in it. Here is your double top. Cool CPI gave us a rally, now we're seeing the stagflation symptoms again. Don't think we'll see a third bounce off of the highs around 40k I believe 40k is long gone. S&P and Nasdaq are harder to read because of NVDA. My read is fundamentals first, chart second. There is an explanation for the moves.Shortby decklyndubsUpdated 7
Dow Jones Trend Eerily Similar To 1945-1966Going over past bull trends, I believe the current bull trend is in lockstep with the 1945-1966 bull trend. Not the 2000 dot com bull trend. The blue ghost bars is the trend from the 45-66. To me, it is lining up almost like a mirror. IF, this is the case, then the market is in a topping process before a dump down to take out October 2022 low before a major rip higher to continue the trend. I know hindsight is not the same as current price action but it will help me to identify good buying points. It looks like to me that price will return to the 0.68 Fib level after the 2019 crash back to 28,000. From 28,000 to 60,000 will be a 120% gain. In order to continue higher, it must first drop lower to create the orders it will need to fuel the move higher. Longby travis18haneyUpdated 669
DOW $16,000 - $DJI Dow Jones Industrial down to $16,000 by 2031Based on my Great Depression Research I think we get a market top +5% - +15% above May 2024. And crash to mean-reversion based on old 1993 - 2018 trading channels which parks us at a 200 weekly bottom of $16,000 on DJI. I am short the market until we prove otherwise. You could replace NASDAQ:NVDA and "Magnificent 7" with NEWCONNECT:RCA and US STEEL from 1929 and the news papers would read exactly the same. They still thought the economy was strong all the way until middle of 1930. There's no way to tell when we are in a great depression bubble that is imploding. The only way to tell is to short the market and if you make money - then we got problems. All my shorts from earlier in May are now max-profit. So I'm adding to shorts. Also all you people who think you're going to be rich; no you're not. You don't know what you're doing. The fact there's so many of you "I'm going to be rich" suckers is why I am bearish. Enjoy your Dow $16,000 suckers.Shortby DarthTrader13572
US 30 short - scalp trade Taken a nice small short scalp on US 30 to finish the week. Entry 39137 TP 39114 SL 39157 Entered on the break of the lows on the 1min targeting the imbalance. As long as we do not break and close above 39195 expect lower pa targeting the HTF sellside sitting around 39030 IF we break above 39195 we will continue higher toward yesterday's buyside liquidity Noted the 15min breaker (blue box) which should be your main point of reference before trying to find entries on the LTF Hope you guys have a great week and made the best out of every single day. Hoping you gained some better insight into your trading and that you've learned more about your system and yourself throughout this week. As always... regardless of your bottom line for the week (ending green or red)... this is just one week in the many more to come in your trading journey...don't fall for the illusion of achievement or failure...we LEARN AND GROW EVERY SINGLE DAY Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form. Shortby Patrick27071
$DJI warnings signs but not all is darkGood Morning!!! Let's dissect a few things. The DJ:DJI is showing warning signs on the Weekly Chart: Money has been leaving. Harder to see on a daily so showing on weekly. RSI is also weak. Daily The DOW is trading under shorter term moving avgs. The RSI is at an important juncture, 50. $ flow almost under 0. ----------------------- There are some positives to the DJ:DJI : There is an Inverse head & shoulder pattern. Although this pattern is better @ calling lows. Of course, if it holds the 38.5k Support Level. 37.5k & 37k would be the next support areas before the retest of the MAJOR SUPPORT level, which is the old all time highs. Sell in May go away? Still bullish but weak spot for the average.by ROYAL_OAK_INC0
Swing watch: Retrace to 50% fib, look for reactionOn the weekly, price seems to be retracing on the daily bullish range. I am waiting for a reaction on the 50% fib to determine if it will reverse to the upside from there or continue lower to take out the weekly FL/sell side liquidity. On the hourly, I am looking price to retrace upside on the bearish range to test 50% fib, for a reaction to continue upside or impulse downside to that daily 50% fib I mentioned earlier.Shortby p31wtrade110
Dow Jones on the Brink:Here's What You Need to Know!The Dow Jones Industrial Average Index (DJIA) currently trades at approximately 39,149.8, showing a slight increase of 0.26% in the last session. The market's recent performance has been marked by significant volatility, indicated by the bearish cross observed in the MACD and other momentum indicators. The latest candlestick formations suggest a potential reversal pattern within an ascending channel. The channel support was tested recently, and the price bounced back, indicating a temporary bullish sentiment. The bearish cross on the MACD histogram suggests downward momentum could persist in the short term. The 50-day moving average (1D MA50) is currently acting as a dynamic support level, around the 39,000 mark. This support level will be crucial for the next few trading sessions. A break below this level could signal a further decline, while maintaining above it could provide the necessary support for a rebound. Utilizing the Fibonacci retracement tool from the recent high to low, we see the price currently hovering around the 38.2% retracement level (approximately 38,350). This level is critical; a break below this could see the DJIA testing the 50% retracement level around 38,000, followed by the 61.8% level near 37,500. MACD: The bearish cross is evident, suggesting selling pressure may continue. However, any divergence from the current trend might indicate a potential reversal. RSI: Currently at around 55, the RSI is neither overbought nor oversold. A move towards 70 could signal overbought conditions, while a dip below 30 would indicate oversold conditions. Stochastic Oscillator: The %K and %D lines have crossed above the oversold territory, hinting at a possible bullish momentum if the crossover sustains. There has been a noticeable decrease in volume during the recent upward price movements, indicating potential weakness in the current rally. Higher volume on down days suggests more conviction behind the selling pressure. The price is trading near the top of the Ichimoku cloud, suggesting a potential resistance area. A breakout above the cloud could indicate a continuation of the bullish trend, while a rejection might confirm the bearish outlook. Short Position Entry: 39,100 (below current price to confirm downward momentum) Target: 38,000 (50% Fibonacci retracement and strong support) Stop Loss: 39,600 (above recent resistance) Long Position Entry: 38,350 (near 38.2% Fibonacci retracement level) Target: 41,500 (rebound target and upper channel boundary) Stop Loss: 38,000 (just below 50% Fibonacci level to minimize losses) The DJIA presents a mixed outlook with significant potential for both upward and downward movements. Traders should closely monitor the key support and resistance levels, paying particular attention to the moving averages and momentum indicators for early signs of trend reversals. A disciplined approach with well-defined entry and exit points, coupled with appropriate stop losses, will be crucial in navigating the current market conditions.by AxiomEx0
US30 dropSeeing a sell on us30 as we can see price created a correction now we looking to dropShortby Beanieboyy3
US30Certainly! Let's break down the concept of the 38% retracement into its key components for a clearer understanding: 1. **Fibonacci Retracement Levels:** These are horizontal lines used in technical analysis to identify potential support and resistance levels in a price chart. They are based on ratios derived from the Fibonacci sequence. 2. **The 38% Retracement Level:** Specifically, the 38% retracement level is derived from the Fibonacci ratio of 0.382. It indicates a potential reversal or pause in the price movement within a larger trend. 3. **Application of the 38% Level:** - **Uptrend:** In an uptrend, traders draw the retracement from the low to the high. The 38% retracement level serves as a point where the price might find support during a pullback. - **Downtrend:** Conversely, in a downtrend, the retracement is drawn from the high to the low. Here, the 38% retracement level acts as potential resistance during a rally. 4. **Drawing the Retracement:** - Traders identify the most recent significant high and low points in the price movement. - For an uptrend, the retracement is drawn from the low to the high, while for a downtrend, it's drawn from the high to the low. 5. **Usage of the 38% Level:** - Traders observe how price reacts around the 38% retracement level. If the price bounces off this level and resumes the prevailing trend, it validates the retracement and offers a potential entry point. - It's common to combine the 38% retracement level with other technical indicators for confirmation, such as moving averages or trendlines. 6. **Example Scenarios:** - In an uptrend scenario, if a stock moves from $100 to $150, the 38% retracement of this move would be at $131. Traders might watch for the stock to find support around $131 and consider entering long positions. - In a downtrend scenario, if a stock drops from $150 to $100, the 38% retracement level during a rally would be around $119. Traders might anticipate resistance around $119 and consider shorting opportunities. 7. **Significance:** - The 38% retracement level is significant because it often acts as a key support or resistance level where price reversals may occur. - Traders use this level to make informed decisions regarding entry, exit, and risk management within the context of a larger trend. Understanding the 38% retracement level and its application within Fibonacci retracements can provide traders with valuable insights into potential price movements and opportunities in the financial markets.Shortby B9A-88652-NisarAhmad5
DOW GREAT FORMATION H AND SGreat head and shoulder formation. It doesn't have to be a perfect H&S . Its important to have divergence and there is. It was nice to trade itShortby bruno_iksil0
ChocHow are you trying to catch the wallstreet bus,at the next stop. Here the market is showing us signs of a trend line liquidity development by Godzillaviews2
DOW JONES Should this Bearish Cross worry us?The Dow Jones Industrial Average Index (DJIA) hit our 40000 Target that we set on our May 06 idea (see chart below) and after that experienced a sharp pull-back: So far this is within the lines of a natural technical correction correction towards the 1D MA50 (blue trend-line), which during uptrends tends to be re-tested as a Support. Notice also that this is where the 0.382 Fibonacci level is, an important technical Support during pull-backs. As long as it holds, the Channel Up has the much needed Higher Low that can enable it to move to a Higher High. We expect that to be around 41500 (+6.30% rise, similar to the previous Bullish Leg). On the other hand, since the 1D MACD completed a Bearish Cross yesterday, we need to consider the possibility of a deeper pull-back, as the last 1D MACD Bearish Cross (April 02), delivered a -6.88% decline. As a result, if the 1D MA50 breaks though, we will take that small loss and go on a short-term sell instead, targeting 38350 (0.618 Fibonacci level). ------------------------------------------------------------------------------- ** Please LIKE 👍, FOLLOW ✅, SHARE 🙌 and COMMENT ✍ if you enjoy this idea! Also share your ideas and charts in the comments section below! This is best way to keep it relevant, support us, keep the content here free and allow the idea to reach as many people as possible. ** ------------------------------------------------------------------------------- 💸💸💸💸💸💸 👇 👇 👇 👇 👇 👇by TradingShot9
check the trend It is expected that the current downtrend will end in the current support range and we will see the beginning of the uptrend. If the index crosses the support range, the continuation of the downward trend is likelyShortby STPFOREX0
SELL US 30Perfect opportunity to sell US 30 SELL AT 40010 - 40050 TARGERT 39800 - 39600 -39500UShortby ZIYADAVAKHIDOVAUZUpdated 2210
easy trade on da dirty 30entry from here is a big balls play, simple analysis. your best entry will be after the break then retest of the trendline. suuuper simple lets see!Longby DoubleDollars007Updated 0
Chance of Recovery in DowThis is a simple long idea for the Dow: We had a heavy sell off today, now the VOLD is building a very clean double bottom. Let's seize the chance for a decent reversal.Longby OchlokratUpdated 3
US30 (DowJones) - 4H a bearish correctionThe Dow Jones has recently captured liquidity above the previous high, as indicated by the sharp move and subsequent rejection from the highlighted resistance zone. This failure to consolidate above the resistance suggests that the bullish momentum has temporarily exhausted, and we could see a retracement. The price is likely to pull back to the green support zones marked on the chart before attempting another bullish push. Traders should watch for potential buy opportunities at these support levels, anticipating a bounce and continuation of the upward trend after this correction.Shortby Sober_TradingUpdated 24