US30 As a reminder, all of the higher timeframes are aligned again to be in Bearish (directional) Market Bias, which includes the Daily, 4-Hour, and Hourly.
This tall Shooting Star has a very tall upper wick. A bullish candle in the new hour may show up to fill that upper wick, either partially or in full to the candle's high, then head down again. If it doesn't happen right away, the wick will get filled eventually.
This bearish descent from a Shooting Star that signals an Overbought condition is also a top reversal pattern. The bears may create a long bearish trend to finish forming the M-shaped pattern. We'll see if that happens.
US30 On the Hourly, the bears are about to attempt a drop down for a breakout from the Inside Day pattern that price action has been widely consolidating within.
Conservative Take Profit Projections: 43,994 - Low of Inside Day for a Breakout 43,881 - Top of S&R Zone
A complex M-shaped pattern is forming and this may be the last and 4th leg that is typically a long, bearish trend.
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US30 On the Hourly that is in Bearish (directional) Market Bias, a Two Bar Reversal is forming for a continued move to the downside. The candles are moving within a two-tiered, Inside Day pattern for a market pause with no true direction.
A breakout from the Inside Day can either be at the high of 44,104 or low of 43,994.
*Conservative Take Profit Projection to the Downside: 43,994 - Low of Inside Day 43,881 - Start of S&R Zone 43,781 - Low of Inside Day on the 4-Hour Timeframe
US30 As a reminder, all of the higher timeframes are aligned again to be in Bearish (directional) Market Bias, which includes the Daily, 4-Hour, and Hourly.
