Outlook for DJI on 1M chart.
We are probably in sub-wave (c) of wave A.
I think the sub-waves of wave A might form an expanded flat or Running flat.
If this scenario is correct, It will probably crash.
Last time my idea.
■Feb 10, 2024. middle-term analysis.
DJIA (US30) could rise towards the pivot which has been identified as an overlap resistance. Could this index stall around this level before potentially reversing to drow lower towards the 1st support?
Pivot: 39,042.57
1st Support: 38,560.25
1st Resistance: 39,412.72
Risk Warning:
Trading Forex and CFDs carries a high level of risk to your capital and you...
As we prepare for tomorrow's trading session, our attention is directed towards US30, with a potential selling opportunity emerging around the 39100 zone. Currently, US30 is tracing a downtrend but undergoing a correction phase, drawing near the critical support and resistance area at 39100.
Augmenting our analysis with a fundamental perspective, the last...
I had an upward arrow on my previous idea, suggesting that after last week's sell, price would challenge ATH. But the "sell" broke market structure and all I see is a weaker price now. Unike last week, I'm only 80% confident about this one. don't get me wrong, the price will definitely go down, I'm just not sure about the tight SL.
I'll Update the Idea as it...
Currently in Draw-Down. Remember always to limit your loss to 1%. The trader with the remaining capital to trade again, always stands a chance to win in the end.
The Consumer Price Index (CPI) has exceeded expectations for the third consecutive month. This development suggests that the US30 price may have reached a monthly low and could potentially continue its upward trajectory, establishing new higher highs as investors are likely to maintain their investments.
What are your thoughts?
Tradebudz
The recent volatility in the financial markets has left many investors on edge, particularly with the DJ turning red in response to the latest Consumer Prices Index (CPI) news. As prices dipped in the last session, signaling a possible start to a bearish trend, it's crucial for investors to stay vigilant and adaptable.
The CPI data for March revealed an...
Dear colleagues, the price has passed many points in the downward movement and at the moment I suppose that the price is completing the corrective wave "4" and very soon will start the upward movement in the wave "5". It is possible to update the low in the area of 38458 and then move to the resistance area of 39419. It is possible that the price will immediately...
Dow Jones (DJI) gave us an excellent sell entry following our last analysis (March 28, see chart below) as it got rejected and made a bearish reversal exactly where we expected it to:
Last Thursday it even broke below the 1D MA50 (red trend-line) for the first time in exactly 5 whole months (since November 03 2023)! This is a bearish break-out confirmation...
Dow Jones 3hour chart. All time high reached at 40,000 and has since pulled back in a falling wedge formation. It has completed the 5th and final wave count last night at 38200. Possible bounce from here and a break through the upper part of the wedge to give us a run towards the all time high.
Not financial advice, just an observation.
Check this out...
The strong wave from Oct. 2022 into the beginning of 2023 had the same structure and ended with an extension (See below: purple 12345 > Expanding Ending Diagonal).
We are now at the yellow arrow, only this one is in a wider setup (so it takes more time to complete).
Does history repeat with a last push up to somewhere between 39200-39600?
Price is rising towards a resistance level which is a pullback resistance level which aligns with the 23.6% Fibonacci retracement and could reverse from tis level to our take profit
Entry: 38582.06
Why we like it:
There is a pullback resistance level which aligns with the 23.6% Fibonacci retracement
Stop loss: 39081.03
Why we like it:
There is an overlap...
Premium Area on the daily time frame. If current market candles can close above in 2 hours then that would be added confluence towards a buy bias. It would be an 80% chance we reach all time highs again if respected. Lower time frame analysis coming soon.
