US30 painting a beautiful downtrend

16 Ara 2024

US30 Technical Analysis Report

December 16, 2024

Current Market Overview
The US30 (Dow Jones Industrial Average) is currently displaying a significant bearish bias, with multiple timeframe analysis supporting a continuation of the downward momentum. Current price: 43,886

Technical Analysis by Timeframe
Daily Timeframe (HTF)

• Confirmed bearish market structure break at 44,392 (December 10, 2024)
  
• Overall Higher Timeframe trend remains bearish
  
• This break serves as a key reference point for the current bearish momentum
  

4-Hour Timeframe (H4)

• Clear downtrend pattern formation
  
• Current price action showing retracement to sweep buy/sell liquidity zones
  
• Price action respecting the downward trendline range
  
• Suggested entry level identified at 43,809
  

1-Hour Timeframe (H1)

• Key resistance level identified at 44,058
  
• Potential for temporary trend interruption if this level is breached
  
• Currently operating within Asian session range boundaries
  

Key Trading Levels

• Entry Target: 43,809
  
• Take Profit 1 (TP1): 43,345
  
• Extended Target (TP2): 42,890 (conditional on market alignment)
  
• Key Resistance: 44,058
  
• Previous Structure Break: 44,392
  

Volume Analysis

Current phase: Asian session (characterized by lower volume)
Critical observation period: New York session open
Anticipating increased volume and potential trend confirmation during NY hours

Risk Management Considerations

• Primary trend remains bearish
  
• Watch for potential temporary reversals at 44,058
  
• Monitor NY session volume for trade confirmation
  
• Consider partial position closure at TP1 (43,345)
  

Trading Session Context

• Currently in Asian trading hours
  
• Key decision point expected at NY session open
  
• Volume expected to increase significantly during NY hours, providing better trade execution opportunities
  

Trade Strategy Summary
The overall strategy aligns with the bearish bias across multiple timeframes. Entry opportunities are being monitored at 43,809, with a structured approach to take profit levels. The New York session will be crucial for volume confirmation of the anticipated moves.

Note: This analysis is provided for educational purposes only and does not constitute financial advice. All traders should conduct their own research and risk assessment before entering any positions.

17 Ara 2024

İşlem kapandı: hedefe ulaştı

TP 1 Hit.


Hopefully we continue on the downtrend to TP 2 @ 42,892, retest 43,344 to act as the new level of key resistance before continuing fill the fair value gap between 42,711 & 42,394 and finally reaching the liquidity resting at 41,805 as per the chart below.



Alternatively if we do find strong support at 43,364, we can call this move simply a retracement from all time highs of 45,140 which can be seen on the daily chart:

For correlation, this can be supported by the Nasdaq continuing to extend to 22,100

and the S&P 500 also at all time highs of 6,090.


This puts us in an interesting position to place any concrete trades plans on the H4 Timeframe, but what we can do is then look within the lower timeframes for opportunities within this tramline as price is likely to head back up to sweep liquidit resting at 43,620 before making a move to the downside to test support again or may just push outside the tramlines seeking the already mitigated previous week's low.


Either way, it is safe to say that we are out of all our positions and will await to see how price reacts upon NY open for any opportunites.