Dow Jones Index (US30): Top-Down Analysis & Trading Plan
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Dow Jones Index is consolidating on a key daily horizontal resistance.
Analysing an intraday price action, we can spot a horizontal range on a 4H.
I would suggest waiting for a breakout of the support of the range -
4H candle close below 34760 - as a solid bearish confirmation.
A bearish continuation will be expected at least to 34500 then.
Bullish violation of the resistance of the range will make the setup invalid.
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Dow Jones Index is consolidating on a key daily horizontal resistance.
Analysing an intraday price action, we can spot a horizontal range on a 4H.
I would suggest waiting for a breakout of the support of the range -
4H candle close below 34760 - as a solid bearish confirmation.
A bearish continuation will be expected at least to 34500 then.
Bullish violation of the resistance of the range will make the setup invalid.
❤️Please, support my work with like, thank you!❤️
Order cancelled
The price broke the upper boundary of the range
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✅Join My Telegram Channel: t.me/VasilyTrading
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
❗️YouTube Channel youtube.com/c/VasilyTrader
✅ Facebook: facebook.com/VasilyTrading/
⭐ My Forex & Gold Broker: bit.ly/vasilyforexbroker ⭐
Related publications
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.