DowJones (US30) Bearish patterns and signs

10 juin 2024

In this 1-hour chart of DowJones (US30), we observe a significant bearish pattern forming after the price action. The market hunted the highs of both the Asia and Euro sessions during the NY session, which typically signals a liquidity grab. This maneuver often leads to a swift reversal, as is evident by the price dropping back down after touching the resistance zone.

The index has broken down from a rising wedge pattern, a bearish reversal signal. This suggests that after the false breakout to the upside, the DowJones is poised for a considerable decline. Traders should anticipate further bearish momentum, potentially leading the index down to lower levels. The break below the wedge confirms that the upward momentum has weakened, and sellers are likely to dominate, pushing the price down further.

Keep an eye on support levels for any potential slowdowns, but the overall trend appears to be bearish for the immediate future.

11 juin 2024

Note

🎉 The DowJones fell exactly as we forecasted! In my previous idea, I highlighted the resistance zone formed after the wedge breakdown, and it acted as the perfect point of rejection. Isn't it amazing to see our analysis hit the mark? 📉👏

Let's keep utilizing these precise insights for more successful trades! 🚀