US30 - BUY IDEA
The US30 chart suggests a potential long opportunity based on Elliott Wave analysis. The price appears to be in a corrective wave (a) and may soon retrace upward to the Fibonacci retracement levels, marked as potential targets for wave (b). The key levels to watch for this retracement are:
- 0.382 (41,093.34)
- 0.5 (41,190.85)
- 0.618 (41,288.37)
A long entry could be considered near the current levels as wave (a) completes, aiming for these Fibonacci retracement levels. Stop-loss could be set below the recent low near 40,777.67, which represents the 1.098 extension level.
This setup anticipates an upward correction in wave (b) before a potential continuation of the larger downward move.
- 0.382 (41,093.34)
- 0.5 (41,190.85)
- 0.618 (41,288.37)
A long entry could be considered near the current levels as wave (a) completes, aiming for these Fibonacci retracement levels. Stop-loss could be set below the recent low near 40,777.67, which represents the 1.098 extension level.
This setup anticipates an upward correction in wave (b) before a potential continuation of the larger downward move.
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