VasilyTrader

Dow Jonex Index (US30): Top-Down Analysis & Trading Plan

Long
BLACKBULL:US30   Dow Jones Industrial Average Index

Dow Jones Index is testing a peculiar zone of confluence on a daily:
we see a perfect intersection between a horizontal support and 382 retracement
of the last bullish impulse.

Analyzing 4H time frame, I see a falling wedge pattern.

To catch a pullback with a confirmation, I suggest looking for a bullish breakout of the resistance of the wedge. 4H candle close above will confirm a violation.
A bullish continuation will be expected to 33970 / 34040 levels then.

Alternatively, a bearish breakout of the underlined blue zone will push the price lower.

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