Dow Jones (DJI) -> Back To The Trendline

16 set 2023

My name is Philip, I am a German swing-trader with 4+ years of trading experience and I only trade stocks, crypto, options and indices🖥️

I only focus on the higher timeframes because this allows me to massively capitalize on the major market swings and cycles without getting caught up in the short term noise.
This is how you build real long term wealth!

In today's anaylsis I want to take a look at the bigger picture on Dow Jones.

https://www.tradingview.com/x/Y1BhSVUE/

At the moment the Dow Jones is retesting its previous all time high which is roughly at the $35.500 level and the index is already starting another bearish rejection.

If we see a retracement back to the lower bullish trendline of the rising channel which is sitting at the $30.000 level, this will be a textbook bullish continuation setup on the Dow Jones.

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I know that this is a quite simple trading approach but over the past 4 years I've realized that simplicity and consistency are much more important than any trading strategy.

Keep the long term vision🫡