Trade the Dow Jones

[Slepoy]

Anyone interested in following and contributing to a thread trading just the Dow, let me know here. It'll consist of TA discussion on mainly an intra-day basis, posting live trades, and anything else which may be of interest to trading this fantastic index.

Look forward to hearing from you, wherever you are in the world.

 

[Slepoy]

As you can see, the H6 200ema/sma has been acting as support this month, and has done so again today. Will it break to the south, or will the price rally back up a bit today? On the Daily, the price is in a range, but for today, we'll have to wait and see what the NY open brings.

Contributions welcome.

 

[postman]

... but for today, we'll have to wait and see what the NY open brings.

Contributions welcome.

"Thus it is that in war the victorious strategist only seeks battle after the victory has been won, whereas he who is destined to defeat first fights and afterwards looks for victory."
Sun Tzu

If you are waiting for the battle to start to see who wins you have already lost.
Plan the day in advance and see if it is going your way on the open.
My plan was dip on the open after the bad jobs numbers and retrace to the price magnet which is 28,000.

Just another opinion. Good luck.

 

[postman]

Dow 27,950 is ok you dont have to push it.

 

[EddieMarkel]

Dow 27,950 is ok you dont have to push it.

For now Dow in bear trend as shown in Dow4.
the middle destination is 27,897 as shown in Dow2.
the upper destination is 29,100 as shown in Dow3.

 

[EddieMarkel]

I would like to see results using simple moving averages.

 

[EddieMarkel]

View attachment 289642

Dowis the first to show weakness and sign to go down (Red point on halfway indicator).
the price region for Dow is 27,766 - 28,837.
I think that Dow go first to check price 28,837.

 

[EddieMarkel]

all indices create "cup handle" pattern

 

[postman]

Dowis the first to show weakness and sign to go down (Red point on halfway indicator).
the price region for Dow is 27,766 - 28,837.
I think that Dow go first to check price 28,837.View attachment 289670

The dow is going no where near 28,800.
28,000 MAX then a fall to 27,200 this week.

Your chart is confusing it just looks flat no discernible pattern from a horizontal line. Try contracting the Y axis so we can see what you are trying to show us.
Cup handle patterns are voodoo like sharks and bats, its a scam to make you buy expensive trading courses.

All my humble opinion of course.

 

[EddieMarkel]

 

[EddieMarkel]

this is not consultation or advice.
I think that the situation about covid 19 in the world has influence on the markets.
Indices:
Dow show weakness (red dots), its go under the blue line and set as target the red line(26,694).

S&P500 go under EMA , show weakness(red dots), but stop on the blue line(3,380).
if S&P500 go down under the blue line, I think its go to meet the red line at 3,226.

Nasdaq go under EMA and show weakness (red dots), I think its go after Dow and S&P500.

 

[Slepoy]

The first chart image below is from last week as the Dow was approaching a triple top. It was breached but came back down. The second image is a 90-minute chart showing a possible scenario for tomorrow, Monday. I may be wrong, but don't see any big movements, perhaps a push-up in the early trading session to the 30,100 area.

The triple top is still a massive technical level and a big test if the Dow is to move higher.

 

[Slepoy]

Dow did move up as soon as the futures markets opened just after midnight, but not by much before turning sharply south. Support found on my 90m 200ema, and projected resistance levels for today marked on the chart. May struggle to get above today's central pivot in my opinion.

Comments welcome.

 

[postman]

Dow did move up as soon as the futures markets opened just after midnight, but not by much before turning sharply south. Support found on my 90m 200ema, and projected resistance levels for today marked on the chart. May struggle to get above today's central pivot in my opinion.

Comments welcome.

It looks good on paper but the dow is a maniac. It's moved in a 500point range overnight.
I think it goes positive early (but only 30 - 40 points) then drops.

 

[Slepoy]

It looks good on paper but the dow is a maniac. It's moved in a 500point range overnight.
I think it goes positive early (but only 30 - 40 points) then drops.

Yes, and as soon as it gets close to that big 30,000 triple top resistance level, it's going to be a beast, even more so than normal.

 

[tomorton]

Interested in a long-term approach?

Each time we get two lower daily highs on the Dow, preferably consecutive, I am setting a buy order at the latest high. The initial stop-loss is below the lowest of the descending daily range bars. Once we get a daily low which is higher than the entry, I drag the stop to there and move it upwards each day as we get successive higher daily lows.

 

[Slepoy]

Around 31,120 should provide some pretty strong resistance on Dow today if it gets there. Currently coming off of today's R1 pivot @ 31,085. See what the open brings.

 

[Slepoy]

As expected, that level posted above has sent the price back down. May now fall to around 30,900 or lower.

 

[postman]

As expected, that level posted above has sent the price back down. May now fall to around 30,900 or lower.

I think 30,855 and pause for thought.

 

[Slepoy]

I think 30,855 and pause for thought.

Yes, lots of potential support down there for sure. Unlikely to fall below today's central pivot today @ 30,824 on my charts, and even more unlikely to get up to or above today's high IMHO.