Hello fellow traders. In this technical article we’re going to take a look at the  charts of Dow Jones Futures published in members area of the website.  As our members know YM_F has recently  made pull back that has unfolded as Elliott Wave Zig Zag pattern. It made clear 3 waves down from the February 23rd peak and completed correction right at the Equal Legs zone ( Blue Box -Buying Area) . In further text we’re going to explain the  Elliott Wave pattern  and trading setup.

YM_F Elliott Wave 1  Hour  Chart 03.05.2024

Dow Jones Futures is showing lower low structure from the peak. Correction has a b c labeling, when we can still be in c red leg. The price structure is incomplete at the moment, calling for a more downside in near term toward : 38604-38471 buying zone. We don’t recommend selling YM_F and prefer the long side from the marked Blue Box ( buying zone). Once Dow Jones reaches our buying area, it should ideally make either rally toward new highs or in 3 waves bounce alternatively. Once bounce reaches 50 Fibs against the b red high, we will make long position risk free ( put SL at BE) and take partial profits.

Official trading strategy on How to trade 3, 7, or 11 swing and equal leg is explained in details in Educational Video, available for members viewing 

Quick reminder on how to trade our charts :

Red bearish stamp+ blue box = Selling Setup
Green bullish stamp+ blue box = Buying Setup
Charts with Black stamps are not tradable. ????

YM_F Elliott Wave 1  Hour  Chart 03.09.2024

Dow Jones made extension toward our buying zone at : 38604 – 38471 as we expected. YM_F found buyers at the blue box and we are getting good reaction from there. Consequently, any long positions from the equal legs area should be risk free by now. As far as the price stays above 38473 low, we can see further strength in Dow Jones toward new highs ideally.

Keep in mind that market is dynamic and presented view could have changed in the mean time.  You can check most recent charts with target levels in the membership area of the site. Best instruments to trade are those having incomplete bullish or bearish swings sequences. We put them in Sequence Report and best among them are shown in the 

New to Elliott Wave ? Check out our  and download our 

Elliott Wave Forecast

We cover 78 instruments in total, but it’s important to keep in mind that not every chart is trading recommendation. We present Official Trading Recommendations in Live Trading Room.  If not a member yet,   and get access to new trading opportunities. Through time we have developed a very respectable trading strategy which defines Entry, Stop Loss and Take Profit levels with high accuracy. Join us now and start learning from market experts. If you are looking for professional real-time analysis in Forex, Indices, commodities,Crypto currencies , stocks and ETFs you have come to the right place.

Welcome to  !

Source:-forecast.com/trading/dow-ym_f-elliott-wave-buying-blue-box/