US30: A Great Sell Setup From the Bearish Flag Channel
-INTRODUCTION-
US30 has recently reached a new low at the $31000 level. This makes the downtrend still very valid and we will look to enter sell positions after a retracement. In the 15-minute chart, we can see a sharp bearish impulse movement, followed by a slow retracement. These are good bearish structures indicating that bears are still in control.
-TRADING PLAN-
The price is moving nicely within the bearish flag channel. Currently, the price is testing the resistance level of $31600. If the price breaks above, then we expect the price to retest the next resistance level of $31900. If failed, then the price should break down the bearish flag channel, falling to retest the previous low.
US session today should provide a clear path.
Check out our recent US500 intraday trading idea below :)
US30 has recently reached a new low at the $31000 level. This makes the downtrend still very valid and we will look to enter sell positions after a retracement. In the 15-minute chart, we can see a sharp bearish impulse movement, followed by a slow retracement. These are good bearish structures indicating that bears are still in control.
-TRADING PLAN-
The price is moving nicely within the bearish flag channel. Currently, the price is testing the resistance level of $31600. If the price breaks above, then we expect the price to retest the next resistance level of $31900. If failed, then the price should break down the bearish flag channel, falling to retest the previous low.
US session today should provide a clear path.
Check out our recent US500 intraday trading idea below :)
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