Trade Idea: US30 Long ( BUY LIMIT ) Technical Analysis:
1. Daily Chart (Long-Term View):
โข The price has recently pulled back but remains in a long-term uptrend.
โข The MACD is negative, indicating past selling pressure, but it is starting to turn, which suggests momentum may shift bullish.
โข The RSI is at 47.54, close to neutral, meaning there is room for upside movement without being overbought.
2. 15-Minute Chart (Intraday Trend):
โข The price is recovering after a dip.
โข MACD is deeply negative, suggesting it may be at a bottom, and a reversal could happen.
โข The RSI at 48.27 is near neutral, indicating a potential bullish move.
3. 3-Minute Chart (Entry Timing):
โข A small uptrend has started, and the price is crossing above the short-term moving average.
โข The MACD is turning positive, signaling a potential bullish push.
โข RSI is above 50 (56.24), confirming strength in the short term.
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Fundamental Analysis:
โข Market sentiment remains bullish overall for US indices due to strong economic data.
โข Dow Jones remains in an uptrend on the higher timeframes, and recent dips are likely just corrections before another push higher.
โข Liquidity conditions and central bank policy support equities.
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Trade Setup:
Entry: 42,400 (current price area where price is stabilizing)
Stop Loss (SL): 42,250 (below recent support, keeping risk low)
Take Profit (TP): 42,800 (previous resistance level) FUSIONMARKETS:US30