US30 1-Hour Analysis - Potential Trading Setup
Technical Outlook — 11 April 2025
Current Market Condition:
US30 on the 1-hour timeframe is currently trading within a short-term ascending channel, showing a recent test of the upper trendline. The price is now exhibiting signs of potential bearish pullback within this channel.
Potential Trading Setup:
Bearish Pullback Setup (Primary Scenario):
Bullish Breakout Setup (Lower Probability, Requires Strong Confirmation):
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Disclaimer: This content is intended for educational purposes only and does not constitute financial advice.
Technical Outlook — 11 April 2025
Current Market Condition:
US30 on the 1-hour timeframe is currently trading within a short-term ascending channel, showing a recent test of the upper trendline. The price is now exhibiting signs of potential bearish pullback within this channel.
Potential Trading Setup:
Bearish Pullback Setup (Primary Scenario):
- Entry: Look for confirmation of bearish rejection from the upper ascending channel trendline. This could be in the form of bearish candlestick patterns (e.g., bearish engulfing, pin bar) on the 15-minute or 30-minute timeframe after testing the channel top.
- Stop Loss: Place a stop loss above the high of the rejection candle or above the upper channel trendline to protect against a potential channel breakout.
- Take Profit Targets:
- TP1: The middle of the ascending channel (currently around 40,600).
- TP2: The lower trendline of the ascending channel (currently around 40,300 - 40,400).
- Potential TP3: If the channel breaks down, the next support zone around 39,800 - 39,900.
- Rationale: Trading within an ascending channel often involves buying at the lower trendline and selling at the upper trendline. The recent rejection at the channel top provides a potential short opportunity for a pullback towards the lower trendline.
Bullish Breakout Setup (Lower Probability, Requires Strong Confirmation):
- Entry: Consider a long entry only upon a strong and sustained break above the upper ascending channel trendline (around 41,000). Look for strong bullish candlestick patterns and increasing volume on the breakout.
- Stop Loss: Place a stop loss below the low of the breakout candle or below the upper channel trendline after it has been broken.
- Take Profit Targets:
- TP1: Previous swing highs or resistance levels above the channel (refer to the chart for specific levels).
- Rationale: A breakout from the ascending channel could signal a continuation of bullish momentum, but requires strong confirmation to avoid false breakouts.
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Disclaimer: This content is intended for educational purposes only and does not constitute financial advice.
Disclaimer
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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.