Jump to content
Sign in to follow this  

Trade the Dow

Recommended Posts

Here's one scenario for today, another rejection on H4 200ema support back up to or towards the 100sma before the next leg down. Just a possible scenario, so we'll see. Either way, I think markets are set to go lower. 

 

Wall Street H4.png

Share this post


Link to post

Be careful with short positions

Have a feeling that this could pop to the upside?

Maybe some Trump twitter or something else?

 

Share this post


Link to post

Support so far today my 10m 200ema sitting @ 978 currently. Some weak resistance ( from now on R for resistance and S for support ) 27,045, but momentum up and support looks strong atm, esp from today's central pivot @ 938 up to the 10m 200ema.  

Share this post


Link to post

Woa!! Very weal ISM data just sent Dow down almost 100 pips down to the CP support area.

Share this post


Link to post

That's gone, but yesterday's low reached.. Further down, the H4 200ema sits on top of today's S2 pivot @ 762

Share this post


Link to post
1 hour ago, Catweazle said:

Support looks to be holding for now on today's S3 pivot @ 690

ambitious target of 550

Share this post


Link to post
2 minutes ago, elle said:

ambitious target of 550

 

Capture 550.PNG

Share this post


Link to post

Fib levels for potential support, and weekly Dow chart captured Sept 23rd. As shown, price could return to the Weekly 100sma.

for catweazle.png

Cat W.png

Share this post


Link to post
3 hours ago, elle said:

 

Capture 550.PNG

 

Capture 21.PNG

Share this post


Link to post

Dow has just hit the 76.4% Fibonacci, ( see above chart ) and is reacting predicatively. The Weekly 200ema still looks to me like a likely target, so we'll have to see whether the 76.4 can hold the price. 

Wall Street 3rd.png

Share this post


Link to post

That's a nice big fat HAMMER my bonnie bairns :D

1766316659_WallStreet_20191003_16_05.thumb.png.aed87bea33e11cd47152e853ab508c8b.png

Share this post


Link to post

Big potential resistance just above on Dow, the 76.4% @ 26,940. The 76.4% sent the price back up ( see above chart ), so can it send it back down. Loads of resistance around this level, so watching closely.

Share this post


Link to post

Very strong rejection off of 27,000. Too early to say whether this may be the top, but whatever happens in the short term, US indecis look to be setting up for an enormous fall. 

Share this post


Link to post

Potentially massive resistance zone has been reached on the Dow, the area between 28,000 - 28,500. If it breaks, then we should see the price move up towards 30,000, but if it holds and falls, then for me this could be the top. I think the remainder of November will give us the answer. Very critical period.

75242187_2660218240697387_9119329550780596224_n.jpg

75388372_2637642392954972_3625581782331555840_n.jpg

  • Like 3

Share this post


Link to post

Dow has snapped back from its early gains today. Two reasons I can see, firstly the price was well within my danger zone posted above, and secondly was the strong H1 diversion formed when the price pushed higher up to 28,160.

For me, there is a pretty strong possibility that the Dow Jones peaked today. Still early days, so don't want to sound overly confident, but we should have a pretty good idea by the end of this week. Right now on H1 100sma support, so we'll see if that can send the price back up.

Wall Street H1 div.png

Share this post


Link to post

Join the conversation

You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.

Guest
You are posting as a guest. If you have an account, please sign in.
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

Sign in to follow this  

  • Member Statistics

    • Total Topics
      7,781
    • Total Posts
      40,624
    • Total Members
      50,996
    Newest Member
    Bukake151
    Joined 22/11/19 05:42
  • Posts

    • Crude palm oil prices could hit $700/mt FOB Belawan in 2020: Golden-Agri https://www.spglobal.com/platts/en/market-insights/latest-news/agriculture/111419-crude-palm-oil-prices-could-hit-700-mt-fob-belawan-in-2020-golden-agri
    • Well Bitcoin broke $8k and is currently around the $7.5k price area. It is not looking good at all.  It seems my $6.3k - $6.6k price area which I think could be the bottom or this specific downward move looks more likely now. I mentioned this price area on Monday (a few posts above) and now I think unless there is some serious buying or spectacular news followed by some serious pumping and short covering then Bitcoin is heading towards this price zone. 
    • There are many different ways to trade and applying or adopting trend following principles is merely just one such way. Trading more frequently does not guarantee any more success but it can increase the chances of making more losses if you do not have a robust trading system that is based on a sound trading plan. Trend following does not have to involve regular or frequent trading. That is the beauty of it. You can merely wait until you identify a trend which you wish to trade. Of course they will not all be successful as the trend could reverse sharply against you, it could be a false trend (looks like a trend but not) or simply the volatility could stop you out.  Day trading really is for full time traders in my personal opinion unless you have an expensive automated system which has been tested rigorously or you are an exceptional trader which can consistently make profits on most days without gambling, hoping or relying on luck.  Trend following suits me based on the time I have available to trade. I accept it is not for everyone but I believe all trading includes an element of trend following. Just how much depends on your trading style and methodologies adopted. 
×
×