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US Wall St 30
Long

US30 long

By kingmwenja
Updated
Weekly;

  • Price has closed above 38,500 level which is massive zone of liquidity
  • Price has formed a head and shoulder.
  • This indicates that price is headed upwards to 39,100 which is the next daily level

snapshot
Daily;

  • Price has closed above 38,500 or 38,550 which is a massive buy area.
  • It has retested that same zone twice with two candlesticks. If you zoom in on the wicks you can see that yesterday's candlestick formed a higher high in comparison to Monday's candlestick. This indicates that price is going higher.

snapshot
4 hour;

  • Today price has continued its upward momentum, however, price is slowing down. Moreover, if I intuitively think about it, price is trying to go higher since there would be no reason for today's momentum to continue going higher, if there are no orders or momentum.
  • The slowing momentum tells me that price does not have enough orders to go to 39,100.
  • So if we zoom in and look for areas of possible entries, there are some.
  • First of all the daily body closure at 38,550 is a massive area of buying liquidity. It is also in sync with yesterday's 4 hour region that retraced to go and collect orders at 38,450. The highest probability entry would be if price tested 38,550 and formed a buy formation 38,625.
  • Another possible scenario is if price manages to close above 38,815 and retests it to confirm my bias, which will see me buy to 39,050.

snapshot
Trade active
Entered a long position as stated earlier
Trade active
Trade is in profit. Looking to move SL to break even
Trade closed: target reached
Amazing trade
Chart PatternsTrend AnalysisUS30us30analysisus30ideaus30long
kingmwenja

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