Trade idea: US30 short ( SELL LIMIT )Technical Analysis:
1. Daily Chart:
• Trend: Bearish correction after a strong uptrend.
• MACD: Negative, showing increasing bearish momentum.
• RSI: 38.25, indicating oversold conditions but with room for further downside.
• Price Action: The price has broken below the short-term moving average, signaling further weakness.
2. 15-Min Chart:
• Trend: Downtrend with lower highs and lower lows.
• MACD: Bearish crossover, confirming downward momentum.
• RSI: 62.60, indicating price has rebounded but is not yet overbought.
• Resistance: Around 41786, which aligns with prior price rejection.
3. 3-Min Chart:
• Trend: Recent short-term uptrend, but likely a retracement in the larger bearish structure.
• RSI: 77.65 (overbought), indicating a potential short opportunity.
• MACD: Bullish but losing momentum.
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Fundamental Analysis:
• Recent Market Sentiment: High volatility suggests caution. A larger correction is possible.
• Interest Rate & Economic Data: If the Fed remains hawkish, equities could see further declines.
• Geopolitical & Economic Risks: Uncertainty in global markets could weigh on the Dow.
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Trade Setup:
• Position: Short (Sell) US30
• Entry: 41750 (near resistance on the 15-min chart)
• Stop Loss (SL): 41880 (above previous highs, tight risk control)
• Take Profit (TP): 41450 (key support level)
• Risk-Reward Ratio (RRR): 2:1
FUSIONMARKETS:US30