US 30 Short on 52 Bars
The US 30 index is making a channel down . After every impulsive wave , there is always a period of consolidation.
So far 3 consolidations can be identified on the 4hrly chart.
These consolidations are near the Kihon Suchi number of 52.
The present consolidation is at 50+ bars.
There is a rising probability of a breakout.
One scenario is another impulsive move towards the channel support.
Since the index is close to channel resistance , it provides a reasonable position to short from.
So far 3 consolidations can be identified on the 4hrly chart.
These consolidations are near the Kihon Suchi number of 52.
The present consolidation is at 50+ bars.
There is a rising probability of a breakout.
One scenario is another impulsive move towards the channel support.
Since the index is close to channel resistance , it provides a reasonable position to short from.
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