US Wall St 30Short
Trade Idea - US30USD
>> SHORT US30USD
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1. Analysis:
As we all know the US30USD has fallen into the bear zone since 24-Feb and formed the closest bottom one month later on 23-Mar.
We can also see the price is moving upwards since 23-Mar and forming a rising wedge pattern, then I think the right strategy is to wait and short.
Additionally, as pointed out by Tom Hougaard, the history seems to repeat itself, after a bold bear trend price seems to bounce back to the Fibonacci 50% and then continue to fall back to its latest bottom, I list out the date so you can figure out by yourself on the chart:
19 - 26-Aug 2002
3 - 10-Jul 2006
30-Apr - 19-May 2008
21-Aug 2010
29 - 31 Aug 2011
14 - 21 Sep 2015
2. Strategy:
Please note that 18.1k is the latest bottom found on 23-Mar.
US30USD---
1. Analysis:
As we all know the US30USD has fallen into the bear zone since 24-Feb and formed the closest bottom one month later on 23-Mar.
We can also see the price is moving upwards since 23-Mar and forming a rising wedge pattern, then I think the right strategy is to wait and short.
Additionally, as pointed out by Tom Hougaard, the history seems to repeat itself, after a bold bear trend price seems to bounce back to the Fibonacci 50% and then continue to fall back to its latest bottom, I list out the date so you can figure out by yourself on the chart:
19 - 26-Aug 2002
3 - 10-Jul 2006
30-Apr - 19-May 2008
21-Aug 2010
29 - 31 Aug 2011
14 - 21 Sep 2015
2. Strategy:
- Short @ 23.9k, TP 18.1k, CL 1-2%
- Short @ 22.5k, TP 18.1k, CL 1-2%
Please note that 18.1k is the latest bottom found on 23-Mar.
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