Technical Analysis: US30, Shorts into 34040.0 then Longs
We have been observing a sustained period of significant upward movement in the US30 market. Barring any substantial changes in the underlying fundamentals, it is my expectation that the price will persist in its ascent.
The ascending triangle pattern on the daily timeframe recently experienced a decisive breakout.
With a the relatively strong show of money leaving the market
On the 4H timeframe we are seeing some signs of incoming retracement
If we do end up getting the retracement to the point of interest You can seek entry on the lower timeframes such as 30 mins.
I will try to keep this idea updated as price reacts.
Tools used : LuxAlgo
The ascending triangle pattern on the daily timeframe recently experienced a decisive breakout.
With a the relatively strong show of money leaving the market
On the 4H timeframe we are seeing some signs of incoming retracement
If we do end up getting the retracement to the point of interest You can seek entry on the lower timeframes such as 30 mins.
I will try to keep this idea updated as price reacts.
Tools used : LuxAlgo
Note
Price is not rejecting the projected zone At this point reversal signal or trend signal can be used as entry I am going to wait for a trend based signal but for reversal a signal has already been printed
Trend base outlook
Note
It is also worth noting we have a bullish divergence on price Order cancelled
C Nicholas Downie
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.
C Nicholas Downie
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.