Dow Jones Industrial Average IndexDow Jones Industrial Average IndexDow Jones Industrial Average Index

Dow Jones Industrial Average Index

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US30 On the Hourly that is in Bearish (directional) Market Bias, a new and thin S&R Zone formed. Price action can drop down from it, but also range widely between two S&R Zones with one below (that starts at 42,126).

If we get a game of Ping Pong with no clear direction, then a breakout needs to happen.
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US30 we dont always win, a good example too set multiple take profits, a trade can quickly turn on you
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US30USD Rinse and repeat , rinse and repeat . dont over think it
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US30 pff There waiting for something drop and up? Or up and drop

US30 What's Below?
On the Hourly, if the bearish candle still forming breaches the Swing Low of 42,200 with a candle close on that price or lower, the more moves to the downside.

Look at the levels of Support the bears can potentially break through: 3 S&R Zones and 7 Swing Lows that have not been breached for a long time. They are still active.

This may be a "sweep" to clean away all of those old Swing Lows to make way for new ones.

Alternative Senario: If the current bearish candle forming can't breach the Swing Low of 42,200 with a candle close on that price or lower, then back up it goes.
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US30 The Hourly has just formed a Bearish Pressure Zone. The Triple Inside Day earlier revealed a very BIG move coming.

If the new candle forming closes below the low of the previous Shooting Star (shown as a blue dotted line), then more moves to the downside - towards the Swing Low of 42,200. But if the new candle fails to close below the low of the previous Shooting Star, then back up again - towards the Pivot high of 42,533 (in red arrow).
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DJI closing below 42300, any closing will be start of the fall