Weekly Forex Outlook Sun.Oct.20.2024 - Fri.Oct.25.2024Like and Comments would be appreciated :D Not Financial Advice, Just my outlook/opinion
US30 trade ideas
Dow Jones Short Term Sell IdeaH4 - Bearish convergence
Currently it looks like a pullback is happening.
H1 - Bearish trend pattern
Currently it looks like a pullback is happening
Until the strong resistance zone holds I expect the price to move lower further after pullbacks.
Are We There Yet?Our top trend line has been touched a few times and rejected now, three days of falls could be the catalyst of the top being in and the early beginnings of a major turn down.
Down days repeatedly see increased volume compared to light volume on up days...usually the market hold up until the Punch & Judy show in November.
They don't ring the bell at the tops, lets watch the next few days, any further heavy selling can take us down to 39,500 area...October surprise?
Appreciate a thumbs up, good trading and God Bless you all!
DOW/US30 - SMALL RISK BIG REWARDTeam, I understand your fear about the down trend,
we been doing very well with the DOW/US30
But today we are going to take a little RISK
entry at 42450-42455
STOP LOSS at 42425
Target 1 at 42515-25
Target 2 AT 42675-76
Note: Once the price hit first target, bring stop loss to BE, dont forget to take 50%-70% partial profit.
This is 3R-5R reward. just play small volume
US30 Breakout Setup – Targeting 43700 and 44000 US30 is showing strong bullish momentum with price holding above an ascending trendline,
I am currently seeing consolidation near a key resistance level if price breaks above 43346 it could signal a good buying opportunity,
I am targeting two main levels for take profit:
First target: 43700 (minor resistance).
Second target: 44000 (psychological level).
My Stop Loss is set just below 43000 to protect the trade, right under the 0.618 Fibonacci retracement and trendline support,
Trade Setup:
Buy Entry: Above 43346 on a confirmed breakout.
Stop Loss: Below 43,000 (protected by the Fib 0.618 level and trendline).
Take Profit 1: 43700
Take Profit 2: 44000
This setup has a strong risk reward profile and follows the ongoing bullish trend in US30, Watch for a strong breakout before entering the trade!
Best of luck!
US30 LONGS-Market is respecting daily tm 4hr, & 30min support
- FVG at 42555 needs to be revisited
-RSI currently at 30
- Expecting lower high to be created by London session or sooner
- Weekly support got hit today
New York Session Recap - US30, GBPUSD, USDCAD [L]Took 3 trades in New York Session - US30 Weekly Trend Reversal, GBPUSD Weekly Trend Breakout, and USDCAD Daily Breakout . I go over what I saw in the market this session.
US30 Nearing 1M Pivot, Decline ExpectedHello,
BLACKBULL:US30 is approaching the 1M pivot point, making it likely to be tested again soon. Currently, the price is expected to decline to the 1M pivot point and possibly lower.
TradeWithTheTrend3344
US30 10/23/24💡
🔍 Daily time frame impulse: Price has made an impulse above the 10/20emas
🔍 Daily time frame correction: Price has corrected into the 10/20emas.
⌛ I will be waiting for the 4hr time frame to make a impulse and show a valid impulse above the 10/20emas as well as a correction into the 10/20emas just like the Daily has showed.
Bias: Bullish
Retest of a highDow Jones might retest a near term as a result of the bearish move. A drop and stability under 43k, will likely see further downward movement.
Dow Jones 30-Minute Trade Targeting Key Liquidity ZoneCurrently, this 30-minute Dow Jones (US30) trade is focused on reaching the liquidity zone around 42,840. The price is trading near previous highs, and a fast move is anticipated from this level. Maintaining a strategic approach, we are closely monitoring this zone to confirm whether a breakout will occur or if the market will reject this liquidity level.
Technicals:
• The market has been ranging near previous highs, indicating a possible buildup of orders around this level.
• The price has shown consistent interaction with the FibCloud, suggesting institutional involvement.
• Current market structure points towards a possible bullish move if the liquidity zone is tapped, followed by a rapid price shift to the upside.
• A key resistance zone lies around 42,840, which will be the short-term target for this trade. If broken, this could lead to higher momentum.
Fundamentals:
• The market remains sensitive to macroeconomic factors such as interest rate updates and geopolitical tensions.
• Positive market sentiment has been bolstered by potential stimulus measures from both the US and international economic policies.
• The US Federal Reserve’s rate hike discussions and global monetary easing are contributing to volatility, impacting the broader market.
• Investor focus remains on earnings season reports and data releases such as the upcoming US jobless claims and inflation figures, which could shift market dynamics quickly.
This setup is poised for a quick move, depending on whether liquidity is tapped, leading to a potential sharp reaction.
Note: Please remember to adjust this trade idea according to your individual trading conditions, including position size, broker-specific price variations, and any relevant external factors. Every trader’s situation is unique, so it’s crucial to tailor your approach to your own risk tolerance and market environment.
US30 Bearish confirmedBearish Bias, Watch for Key Support at 42,469
The market is currently in a bearish phase with strong selling pressure. Immediate support lies around 42,469 - 42,500, and a break below this could lead to further downside.
A reversal could only occur if the price holds this support zone and gains bullish momentum with a move back above 43,037.
Stock market still in expansion phaseStepping back to longer timeframes, it's often easier to see the forest from the trees. It's easier to see patterns. For instance, you can see the rising RSI pattern that follows a long time-frame bull run. When the market starts substantial pullbacks, it breaks that trend to the downside and starts a new trend. That switch results in a recession and a longer timeframe cooling of the market. Currently, it seems we have not reached that point. That is not to say we could not quickly fall into that pattern, but understanding where we are at in a cycle is as import as the decisions we make when the market changes.
US30 Possibly bearish If the price consolidates above 43,150, it could move toward the 43,900 range. However, if it drops below 42,700, we might see a retracement toward lower support levels.
My personal bias is bearish from the resistance
US30 DROPING SOON US30 in channel break of chhannel retest pin bar entry and cosolidation for an entry
US 30 double bottom patternUS 30 has formed double bottom pattern on hourly chart which is a reversal pattern,buying is a good option once it break neck line .
US30USD Will Move Higher! Long!
Take a look at our analysis for US30USD.
Time Frame: 12h
Current Trend: Bullish
Sentiment: Oversold (based on 7-period RSI)
Forecast: Bullish
The market is trading around a solid horizontal structure 42,851.2.
The above observations make me that the market will inevitably achieve 43,893.3 level.
P.S
The term oversold refers to a condition where an asset has traded lower in price and has the potential for a price bounce.
Overbought refers to market scenarios where the instrument is traded considerably higher than its fair value. Overvaluation is caused by market sentiments when there is positive news.
Like and subscribe and comment my ideas if you enjoy them!
Correction The current support range is expected to be broken and a continuation of the downtrend is likely. If the index stabilizes above the current support range, the continuation of the upward trend is likely
Dow Jones break wedge pattern Dow jones break Wedge pattern but it still above demand zone and up trend
Demand zone between (42649.00:42773.00) if it still above this demand zone i think it will go up again to reach 43037.00 then 43350.00.
in the other side if demand zone has been broken and closed under daily candle it i think we may see correction up to 42390.00 then 41860.00.
Us Wall St 30 forecast by Elliott The potential target and timing of the third wave have been drawn using two tools: Fibonacci Extension and Fibonacci Time. According to this analysis, within the next two weeks, we can expect it to rise up to 44,000.
Falling towards 50% Fibonacci support?DJ30 is falling towards the support level which is a pullback support that aligns with the 50% Fibonacci retracement and could bounce from this level to our take profit.
Entry: 42,601.36
Why we like it:
There is a pullback support level that aligns with the 50% Fibonacci retracement.
Stop loss: 42,438.90
Why we like it:
There is an overlap support level that aligns with the 61.8% Fibonacci retracement.
Take profit: 43,005.50
Why we like it:
There is an overlap resistance level.
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Will the market uncertainties impair the Dow?Macro theme:
- The US30 has pulled back from record highs after a long rally, driven by rising Treasury yields and worries over high valuations.
- Investors are watching earnings from companies like Boeing (BA) and Coca-Cola (KO), which could affect market sentiment.
- With mixed economic signals and geopolitical uncertainties, short-term volatility is expected. Investors are balancing hopes for Fed rate cuts against concerns about economic growth and corporate earnings.
Technical theme:
- From the 4-hour chart, US30 broke its ascending trendline and retested EMA78 and the support level at 42720.
- If US30 breaks below 42720, the index may change the structure sideways and reach nearby support around 42390.
- On the contrary, if US30 remains above 42720, the index may consolidate within 42720-43300 until an apparent breakout occurs.
Analysis by: Dat Tong, Senior Financial Markets Strategist at Exness
