US30

19 Jul

The Dow Jones Industrial Average Index (US30) on a 1-day timeframe.

Key Elements in the Chart:

1. Entry Zone (40,070 - 39,880):
The recommended entry range for a long position is between 40,070 and 39,880.

2. Target Levels:
Target 1: 40,636.77
Target 2: 41,295.33
Target 3: 42,750.00

3. Stop Loss:
The stop loss level is set at 39,825.

4. Support and Resistance:
Support Zone: Marked in green below the entry range.
Resistance Levels:
First Resistance: 40,636.77
Second Resistance: 41,295.33
Final Cycle Target: 42,750.00

5. Current Price:
The current price at the time of the chart is 40,604.42, which is below the first resistance level but above the entry zone.

Analysis:

1. Entry Strategy:
The recommended entry zone for a long position is between 40,070 and 39,880. Entering within this range allows you to capitalize on a potential upward movement towards the target levels.
2. Target Levels:
The first target level of 40,636.77 is relatively close to the current price, suggesting a short-term target.
The second target of 41,295.33 and the final cycle target of 42,750.00 indicate higher resistance levels and potential profit points for medium to long-term trades.
3. Stop Loss:
A stop loss at 39,825 ensures a predefined risk, protecting the trader from significant downside moves if the market goes against the position.
4. Support and Resistance Analysis:
The support zone indicates a strong buying interest, which can serve as a cushion against falling prices.
Breaking above the resistance levels will be crucial for the continuation of the upward trend.
Trading Plan:
1. Enter Long Position: Within the entry zone (40,070 - 39,880).
2. Set Stop Loss: At 39,825 to manage risk.
3. Monitor Resistance Levels: Watch for price action around 40,636.77 and 41,295.33.
4. Take Profit:
Partial profit at the first target (40,636.77).
Further profit at the second target (41,295.33).
Final profit around the final cycle target (42,750.00).