Technical Confluence:
Daily Chart:
• Strong bullish engulfing recovery from recent support (~37,700).
• MACD starting to curl back up from deeply negative levels — possible trend reversal.
• RSI recovering above 50 (currently 52.49), suggesting bullish strength resuming.
15-Min Chart:
• Sustained uptrend with pullbacks respecting the moving average.
• MACD crossing positive territory.
• RSI at 64.77 with room to move higher before hitting overbought levels.
3-Min Chart:
• Tight consolidation after a sharp breakout to 40,766 — forming a potential bull flag.
• RSI at 58.89 — mid-level with upward momentum potential.
• MACD histogram shrinking — possible continuation breakout imminent.
⸻
Fundamental Context:
• Market Sentiment: U.S. markets are generally supported due to strong earnings reports and decreasing recession fears. Treasury yields have stabilized, and risk appetite is returning.
• Upcoming Events: FOMC rate decision is key — bullish bias if they hold or soften tone.
⸻
Trade Details:
• Entry: 40,770
• Price is consolidating just under this resistance. Enter on breakout with volume confirmation.
• Stop Loss (SL): 40,350
• Below recent support on the 15M chart and under the moving average. Conservative SL with volatility in mind.
• Take Profit (TP): 41,450
• Measured move from the flag pattern and aligns with Fibonacci extension and historical resistance.
US30
Daily Chart:
• Strong bullish engulfing recovery from recent support (~37,700).
• MACD starting to curl back up from deeply negative levels — possible trend reversal.
• RSI recovering above 50 (currently 52.49), suggesting bullish strength resuming.
15-Min Chart:
• Sustained uptrend with pullbacks respecting the moving average.
• MACD crossing positive territory.
• RSI at 64.77 with room to move higher before hitting overbought levels.
3-Min Chart:
• Tight consolidation after a sharp breakout to 40,766 — forming a potential bull flag.
• RSI at 58.89 — mid-level with upward momentum potential.
• MACD histogram shrinking — possible continuation breakout imminent.
⸻
Fundamental Context:
• Market Sentiment: U.S. markets are generally supported due to strong earnings reports and decreasing recession fears. Treasury yields have stabilized, and risk appetite is returning.
• Upcoming Events: FOMC rate decision is key — bullish bias if they hold or soften tone.
⸻
Trade Details:
• Entry: 40,770
• Price is consolidating just under this resistance. Enter on breakout with volume confirmation.
• Stop Loss (SL): 40,350
• Below recent support on the 15M chart and under the moving average. Conservative SL with volatility in mind.
• Take Profit (TP): 41,450
• Measured move from the flag pattern and aligns with Fibonacci extension and historical resistance.
US30 Trade active
Note
Over the last couple weeks, the swings at which US 30 was having has dramatically slowed. Going from nearly 1k points a day and swinging violently with volatility. This makes the stop loss sizes I use much larger then normal according to the support and resistance lines.
Typically trades last less then 12 hours but lately it’s been over the course of a few days.
Things will start to return to normal soon as the Dow returns to its roots and president trumps changes slow. Stop loss sizes will get smaller and as a result the chart won’t need to make huge moves to hit TP levels.
#practicepatients
Trade closed: stop reached
BE TRIGGERED
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.