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Top30

US30For now it is to watch and let effect take as to what will happen. We don't predict the market but we forecast from signs of the market and we build ideas on that, then according to our plans we set out to make the most we can. Hear we have different highs and probably why the sell off has not began. But we know that we are in a correction of a bearish leg. This gives perspective on to the longer term view and what to expect long term. 39035 - 39040 is our target and what price does here will explain what we do next.
PEPPERSTONE:US30
by Mhangwane1
US30This and NAS100 have a similar path not the same. WEEKLY 40000, the highest price it has peaked at. When it peaks it then drops and goes to fetch support from a previously strong support level. NFP is where we will get our volatility. DAILY We were in an impulsive phase, because we know that the trend is bullish. Just stuck in the ascending channel. 36000 looks like the assumption price, but we need to remember the assumption price is not a strong clue to add to our evidence file. 4H I am seeing a bear flag, which should touch 38700 before collapsing, where we can get in with a risk entry or keep waiting till a reduced risk entry. Let's let price develop before we act and do anything. 1H Just stay watching and waiting.
PEPPERSTONE:US30Short
by Mhangwane1
US30DAILY We had the touch we needed, and were triggered in quite early. SL moved and stopped out. The risk entry paid off, the reduced risk also paid off. Low test candle close to our support, it's to add to our current knowledge not direct triggers to take trades. 4H Last 3 bullish candles seem to give headroom to the reversal conversation but till there's more bullish pressure or final rejection on the support - not doing anything. 1H Squeezing wedge in a bearish trend means we will get the squeeze and expect an impulse.
PEPPERSTONE:US30Short
by Mhangwane1
US30Identify which phase of the market you are currently in. DAILY Still in the correct phase of the bull trend. 37060, our significant support area where we believe the correction phase will start to phase out. We had an ascending wedge, which we broke and have just kept going down since then, forming bear flags on the way down. 4H The flat flag pattern is not confirmed as we only have 2 touches on either side, with price hanging in the middle we watch and stay waiting. We have placed to trade ideas, one is the super risk entry the other is the reduced entry. The risk is triggered and we just waiting for the reduced entry to be triggered. 1H Forming a pattern within a pattern (another bear flag) within the possible flat flag. So we can believe the trend we have concluded the bear movement.
PEPPERSTONE:US30Short
by Mhangwane1
US30DAILY Just had an expanding wedge and price is building more into the wedge. 38655, shows us further price movement to possibly the upside. 4H 38600 is a form of some support, look left and you will see the test / rejection and sensitivity around this price. The expanding wedges are just giving us signs that there's bearish pressure when they happen. So we are adding to our confluence. 1H 38555, bouncing here and rejection. This should not tell us that we are going up, it's just indication to stay watching. 15Min Stay away NB!!!!!!!!! NFP FRIDAYS WE ONLY TRADE AFTER NFP TO AVOID DOING THE WRONG THINGS.
PEPPERSTONE:US30
by Mhangwane1
US30Daily The beginning of a reversal (to the upside) the completion of todays candlestick will help confirm that. It looks to be forming an evening star right at the top of the resistance which adds to our confirmation. 4H We definitely are still on the right track but we are still just slightly early. Got the test of the previous resistance (39620) correct just days later 1H Expanding wedge during a bear channel, yet it is a bullish trend. So we either anticipate this as a reversal (to continue the bear run) or we see this as a reversal to bring back the bulls in the market. 15Min Wait and watch
PEPPERSTONE:US30
by Mhangwane1
US30So wrong or just too early. Mid way we were moving following our analysis and the bulls just gained energy but that's okay. I did have quite a bad week so it would have affected my thoughts. Currently 39450, were we anticipated the major drop is where we can adjust and rework our analysis from 1W down to 15min. Weekly we have a strong bearish candle, which looks to be engulfing the previous week. It's cause of sign because it is happening at the top of the trend. Daily we had an evening star, that further adds to our analysis and believe of the bears. 4H we had a double top, indicating the fall (39900 being the ceiling). If we get a neckline (39300) break then we off to the races. 1H we'll wait for 39260. Trade Idea: Wait
PEPPERSTONE:US30
by Mhangwane1
USStraight forward, this is bullish and has no reason to stop being bullish. HH and HL are the indications of the strength of this trend. Within the channel is where the action is. Current price we bearish. For now stay away from the trade idea but rather on the movement of price. We melting downwards, which resembles the supply but not the demand because it could still be up. For now hold and wait for consolidation before wanting to enter sells. LET CONSOLIDATION BE MIMUMUM 5-10 CANDLES, this is a better confluence as this will give us a price squeeze and better direction predictions. Trade Idea : Buy Limit SL - 38680 Entry - 38835 TP - 40010
PEPPERSTONE:US30
by Mhangwane1
US30This big boys came to play with NFP but was equally sorted out without regret. 4H -Serious Doji - Hanging man as the closing candle * Evening Star 1H * 3 touches on either side of the channel * Bearish channel confirmation * Rection and close under 37500 - 37400 can be the next resting place - 37300 is the next significant level should it fall 15Min - Price in a squeeze, we should be expecting a breakout next (one that will be very impulsive) - 37327 area around where double/triple bottom happened - 37520 break = Shoot up (bullish momentum)
PEPPERSTONE:US30Long
by Mhangwane1
US30Here is an alternative view. If you understand the different phases of market movements. I should not have to explain this. I just have to make you aware that this actually is a possibility and one that has a great RR (about 6). Which follows my trading plan and follows my triggers. * 3 touches at the top of the channel * 3 touches at the bottom of the channel * Break of the main trend that was following the bullish momentum * Currently in Phase of retest and rejection before it falls * The bearish candlesticks had more power going down than the bullish ones moving up I've got 5 confluences This is now on my considerations
PEPPERSTONE:US30Short
by Mhangwane1
US30We need to be decisive here. US30 has no exact direction from my eye from 4H going down Yet it is still in a bullish trend from overall momentum, which is 1 out of 3 indications we have that we should be looking for buys. Moving deeper: The opening of the market and closing of the opening candlestick will help direct us to look out for specific moves by the market. Watch for 37640: - if it breaks straight through here, wait till it gets to 37600 before the next move - if it bounces/retests here we can assume the continuation of the bigger bullish trend and break of the current trend
PEPPERSTONE:US30
by Mhangwane1
US30That is more than enough, move your SL into TP or breakeven. - The market has given us more than enough - Demand has been met by the supply - Impulsive candles indicate we were correct in following the market and the conditions - There is no slow down so it should keep going but do anticipate a pullback * remember this is a business, so because the business has now spend money to fulfil orders and the demand then money will need to be recuperated and put back into the business before more supply is given to the remaining demand. *
PEPPERSTONE:US30Short
by Mhangwane1