US30 buy

August begins: we are waiting for DJIA growth!

02 august 2022 131
Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
1st in the segments "Indices", "US stocks" and "Metals"
2nd in the segment "Currencies"
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Stock indices of France and Germany have increased in the second part of July on 6,7% and 5,4% correspondingly, and this fact has approved their tendency to grow during 2 last weeks of the month. And now they are waiting for the end of Turn-of-the-month effect which probably also will be confirmed by their growth.  


August has begun. And it's time for the expected two-week growth of the US stock indices (DJIA, S&P500, Nasdaq) and Russian stock indicies (RTS, iMOEX).

 

Let’s focus on DJIA. The average growth of the index with a probability of 81% is 0.61% in the first weeks of the month, which confirms the study of the Half-of-the-Month effect


Currently DJIA is being corrected after the significant fall of 18.5% and it has already overcome the important first Fibonacci level of 38.2%. The further corrections are the levels 50% and 61.8%

The Turn-of-the-month effect is already manifested and today it is confirmed by the index growth.


 

So, the following ways of trading are applicable:

 

1. Purchase of index by the current price.  

 

The target orders Take Profit 1 and Take Profit 2 are on the corresponding points 33250 and 34050. 

Protection order Stop Loss is below the point 32300.

Also, you can close the position at the end of trade on the 15 of August.


 

2. Purchase of index during the decrease of cost to 32400.

 

The target orders Take Profit 1 and Take Profit 2 are also on points 33250 and 34050. 

Protection order Stop Loss is below the point 32300.

You can also close the position at the end of trade on the 15 of August.


 

During the trade remember about the spread and money management rules! 

 


Warning!

Trading on financial markets implies high levels of risk and can lead to a loss of investment capital. The MarketCheese team isn’t responsible for the possible loss of Your investment funds.

Elena_Berseneva
Elena_Berseneva

Listed among the best MarketCheese authors
1st in the segments "Indices", "US stocks" and "Metals"
2nd in the segment "Currencies"
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