Dow Jones is testing the MA200 (4h) today, after holding the MA50 (4h), extending the rebound that was generated at the bottom of the Channel Up. This is so far replicating to a good extend, the March 15th rebound-bullish leg. Trading Plan: 1. Buy on the MA200 (4h) break out. Targets: 1. 34850 (Falling Resistance). Tips: 1. The MACD On the (1d) time frame is...
The primary expectation is that wave ((c)) of wave 2 is finished. We had a strong reaction from the reversal areas. However, in the lower time frame, we are missing one more swing up to identify an impulse. If we do not get the additional swing up, we probably take out the low as an impulsive fifth wave down.
Dow Jones on the 3M chart gives you the clearest picture you can get. Every 10-15 years it consolidates inside a Megaphone (fundamental reasons like war, recession etc) and then an expansion phase follows. In the 90s this expansion phase was extended due to the uprecedented boom of Dotcom. While the index is on its expansion phase, the RSI trades inside a...
The primary expectation is that wave ((c)) of wave 2 is finished. We are in the areas from where we can expect a reversal. If the reversal is not coming and we take out the low, the secondary scenario with an additional impulse down as wave ((v)) comes into play.
The primary expectation is that wave ((c)) of wave 2 is finished. We are in the areas from where we can expect a reversal. If the reversal is not coming and we take out the low, the secondary scenario with an additional impulse down as wave ((v)) comes into play.
Dow Jones (DJI) is printing on its RSI on the 1W time-frame an astonishingly symmetric Higher Lows pattern as 2015/ 2016. As with today, the price was within a Rising Wedge at the time, making a fake-out bearish break but still was emphatically supported by the lower Bollinger. In fact the Bollinger Bands have been instrumental in containing the price action. It...
Dow Jones hit the 1day MA200 yesterday and failed to close over it. As a result, the price got rejected and started pulling back today. Based on the 1day RSI, we could be in a minor corrective candle similar to March 22nd, which found Support between the 0.618-0.786 Fibonacci range. Buy on the 0.618 Fibonacci and target 35000 (Resistance A). Previous chart: ...
(Refer to my Weekly analysis for US30 and DXY) On lower timeframes I have 3 areas I want to anticipate a long to go to the short POI. Ideally, we don't see a daily close out of that thin yellow box (Daily Bisi). There are 3 lines of defense for price to reach to and find support. 1st line of defense is a Breaker with CE of a wick and a gap, which looks very...
The end of the week will show if we have bottomed here, but I have 2 areas of interest: Where we are already in this weekly Sibi to either give up the ghost and drop lower, or go into the 2-week Sibi and then either break down or continue up and then find it as support soon after to proceed higher. Gut instincts and based on my sentiment for the USD is that we...
Dow Jones touched yesterday the 1D MA100 and with it turned the 1D technical outlook neutral (RSI = 47.338, MACD = -251.570, ADX = 41.460). As presented last time (see idea link at the bottom) the rebound level was the bottom of the Channel Up and now that is confirmed as the 1D MACD formed a Bullish Cross. Much like the bearish wave of February-March, the 1D...
The primary expectation is that wave ((c)) of wave 2 is finished. We are in the areas from where we can expect a reversal. If the reversal is not coming and we take out the low, the secondary scenario with an additional impulse down as wave ((v)) comes into play.
Dow Jones touched the MA200 (1d) today after bouncing off the bottom of the Channel Up. This is a standard V shaped reversal, much like the one in March. Trading Plan: 1. Buy on the next MA200 (1d) break out. Targets: 1. 34850 (Falling Resistance contact in similar fashion with April 14th). Tips: 1. When the RSI (1d) is rebounding after being oversold, which is...
We are presently analysing the US30, which has recently reached a critical resistance level. In the video, we conduct a comprehensive analysis of the Dow Jones, delving into various aspects including the prevailing trend, support and resistance levels, market structure, and price action dynamics. As the video nears its conclusion, we carefully assess a prospective...
The primary expectation is that wave ((c)) of wave 2 is finished. We are in the areas from where we can expect a reversal. If the reversal is not coming and we take out the low, the secondary scenario with an additional impulse down as wave ((v)) comes into play.
In the previous Dow Jones analysis I shared some weeks ago, I was expecting market to continue its bullish move more than what it did. But since I bought near local low at that time, I was able to get out of that trade in profit. The market then formed Triangle pattern and decided to go downhill from there which we have been seeing recently. Last Friday, I was...
The primary expectation is that wave ((c)) of wave 2 is finished. We are in the areas from where we can expect a reversal. If the reversal is not coming and we take out the low, the secondary scenario with an additional impulse down as wave ((v)) comes into play.
Dow Jones (DJI) is rising following a vastly oversold 1D RSI reading (reached even 23.60) at the bottom of the (blue) Channel Up. Based on the RSI pattern itself, we can draw comparisons with the December 2022 - March 2023 correction. According to that the 1D RSI has one more Low to make before it bottoms and that bottom will be leg (e). This will justify the...
The primary expectation is now that wave ((b)) is finished and that we are doing wave ((c)). It looks like we are working on the fifth wave of wave ((c)). We are in the areas from where we can expect a reversal. If the reversal is not coming, we will focus on the secondary scenario.