US30 Analysis Using Elliott Wave
Current Market Structure & Elliott Wave Count
Wave 3 High Completed around 42,600-42,700
Wave 4 Pullback in Progress targeting 42,200 - 42,000
Potential Wave 5 Extension towards 42,800 - 42,900
Trading Strategy & Execution Plan
Bullish Scenario (Wave 4 Completion & Wave 5 Start)
📌 Long Entry:
Buy at: 42,200 - 42,000
Stop Loss (SL): 41,800
Take Profit (TP1): 42,500
Take Profit (TP2): 42,800
Take Profit (TP3): 42,900
🎯 Probability: 70% (If price finds support above 42,000)
Bearish Scenario (Wave 4 Deeper Correction or Reversal)
📌 Short Entry:
Sell at: 42,600 - 42,700 (Wave 3 High Rejection)
Stop Loss (SL): 42,850 (Above Wave 5 Expected Move)
Take Profit (TP1): 42,300
Take Profit (TP2): 42,000
Take Profit (TP3): 41,700
🎯 Probability: 65% (If price rejects 42,600 resistance)
Final Thoughts & Risk Management not financial advise
✅ Bias: Bullish above 42,000, Bearish below 41,900
✅ Risk/Reward Ratio: 1:3 for Both Scenarios
✅ Volatility Factor: Use Smaller Lot Size at Key Levels
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.
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.