US30 Short Daily timeframe
Looking at historical data as we have analyzed with the presidential elections, we can see that back in Dec 20, 2019 to Dec 31, 2019, price rallyed up approx. 3500 pips before seeing some momentum to the down side, before recovering and continuing with market structure as per the illustration. In addition, we see that market pushes to sellers protection where after multiple rejections, market crashes and takes a dip. Similarly, we "EXPECT" price to behave in the same manner, to reach a point of exhaust where there is sellers protection, retest multiple times before the rally down.. As we have seen a push of approx 3500 pips since 12/20-12/31, we too, are taking a projection that price will do the same, however, expect 3200 pips from present to be safe. Kindly see illustration for proper price action values.
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