Hello Traders;
I believe that US30 is due for a very huge bearish move
Here's why
Monthly;
Weekly;
Daily;
4 hour;
I believe that US30 is due for a very huge bearish move
Here's why
Monthly;
- Price broke all time highs and never retested the previous region.
- May's candlestick closure is very weak and left a long wick to the upside. The probability of the wick being filled is very low.
Weekly;
- There is a 3 pin pattern that never closed below the pattern.
- If price ever breaks 38,000 then the next target is 37,500.
- Two weeks ago price formed a doji candlestick formation which shows me there are not enough orders to go to the upside.
- The previous week's candlestick has its body showing downside momentum
- I believe that this week price went up to collect orders before we see inevitable downside movement
Daily;
- Price is at a major selling region at 38,875 and rejected it with a 3 pin pattern.
- The next notable daily region to the downside is 38,550
4 hour;
- Price has broken below 38,830 which is a 4 hour region and has retested the region.
- The next notable region is 38,750.
- Waiting for a sell setup
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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.