US30 potential long setupsMulti-Timeframe Market Analysis — Bullish Continuation Potential
3-Month Timeframe
• October 2023: Price broke all-time highs.
• Bullish order block established at $37,250; price rallied to $45,000.
• Strong retracement followed to the $39,000 region—bullish orders filled.
• Current trend: Structure remains bullish with institutional support evident.
Monthly Timeframe
• Post-ATH liquidity collected at $41,750; retested in January with insufficient momentum.
• Price returned to $45,000 before retracing to $38,000.
• Strong bullish response from $38,000 leading into April and May.
• Price now trades above $41,750. A monthly close above this level signals further upside.
• Watch for a three-pin pattern—if confirmed, high probability of a break above previous monthly highs.
• Next target: $45,000 liquidity zone.
Weekly Timeframe
• Double bottom formation aligned with higher timeframes.
• Bullish accumulation at $41,250 drove price to $42,000, followed by a close above that level.
• Immediate resistance at $44,000, where previous bearish orders were concentrated.
• Last week ended with a bearish candle; this week opened with strong bullish momentum from $41,250.
• This timeframe supports a bullish bias, contingent on follow-through above key levels.
Daily Timeframe
• Bullish structure in alignment with monthly and weekly.
• Strong order flow noted at $41,250, enabling a break and close above $42,000.
• Next daily target: $42,800; key resistance: $42,881.
• Anticipate a possible retracement to $42,000 for further accumulation before continuation higher.
4H Timeframe
• Intraday price action highlights Friday’s retracement to $41,250 during NY session—bullish orders filled.
• Monday opened bullish; momentum slowed at $42,000 with brief retracement.
• Tuesday's NY session: 3-pin bullish pattern at $42,000, followed by a bullish close.
• Current price movement appears to be a retracement for more long orders.
• No actionable setup at the moment; monitoring for a clean 4H close above $42,350.
1H Timeframe
• Price encountered resistance at $42,350, a known liquidity region.
• Break and close above $42,300–$42,350 range confirms short-term bullish pressure.
• Awaiting next 4H candle to assess validity of long setup.
• Maintaining a neutral stance short-term; prepared to act on bullish confirmation.
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Conclusion:
Very mindful of FOMC meeting minutes today and I am waiting to see what price action will occur after. Market structure across all major timeframes remains bullish. Pending a monthly close above $41,750 and a potential three-pin formation, the technical outlook favors continued upside. Patience remains key—await confirmation for optimal long entries.
