US30 1H TF Analysis 4-3-22
US30 has been trending bullish all month last month and the candle closed with a retracement. There is a possibility that price may range since this is the first week of the month, but there are some scalp opportunities. Considering current market conditions, a low has been formed on the 1 hour timeframe and price failed to break above resistance and formed a lower high which tells me that price can continue bearish to retest the low and possibly create a lower low. Waiting for volume to enter the market to take the sell. If price fails to break below and create a lower low, then we can anticipate for price to range until a catalyst occurs to bring in enough volume to either break below or above. Patience is key. Wait for your setup and trade during a time with volume (NYSE open)
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.