US30 SELL OPP
Confirmations
- Triple top pattern forming on the 1hr,30m,&15m which is a sign that buyers have tried to push price past around 33211 but sellers are in the market.
- Drew my fib out, price has recently bounced off of my 50.00% level however, the 50.00% level to me is almost like a consolidation level that I use. I don't necessarily take the trade just because price has bounced off of my 50.00%. I would like to see price bounce of my 38.20% level however, with this chart pattern price could just drop as soon as the market opens.
- Waiting to see how price moves & the volume of the next candlestick.
- Price should retest support at 32977 and because of that I think when price retests its going to hit the 50 moving average & from there price can continue to push up
- I don't necessarily follow the news, however tomorrow May 30, 2023 HPI M/M drops, S&P Corelogic CS and lastly with major impact we got CB Consumer Confidence.
(Side note)
I Know my risk reward ratio might look off so just to let you know when the market opens based off price that's the entry I want. If price pushes to 38/2% then move stop loss to 33205. Take profit stays the same. We have a clear triple top however my entry is really going to be based on how prices moves when the market opens.
- Triple top pattern forming on the 1hr,30m,&15m which is a sign that buyers have tried to push price past around 33211 but sellers are in the market.
- Drew my fib out, price has recently bounced off of my 50.00% level however, the 50.00% level to me is almost like a consolidation level that I use. I don't necessarily take the trade just because price has bounced off of my 50.00%. I would like to see price bounce of my 38.20% level however, with this chart pattern price could just drop as soon as the market opens.
- Waiting to see how price moves & the volume of the next candlestick.
- Price should retest support at 32977 and because of that I think when price retests its going to hit the 50 moving average & from there price can continue to push up
- I don't necessarily follow the news, however tomorrow May 30, 2023 HPI M/M drops, S&P Corelogic CS and lastly with major impact we got CB Consumer Confidence.
(Side note)
I Know my risk reward ratio might look off so just to let you know when the market opens based off price that's the entry I want. If price pushes to 38/2% then move stop loss to 33205. Take profit stays the same. We have a clear triple top however my entry is really going to be based on how prices moves when the market opens.
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