Technical Analysis: US30, Shorts into 34040.0 then Longs
We have been observing a sustained period of significant upward movement in the US30 market. Barring any substantial changes in the underlying fundamentals, it is my expectation that the price will persist in its ascent.
The ascending triangle pattern on the daily timeframe recently experienced a decisive breakout.
With a the relatively strong show of money leaving the market
On the 4H timeframe we are seeing some signs of incoming retracement
If we do end up getting the retracement to the point of interest You can seek entry on the lower timeframes such as 30 mins.
I will try to keep this idea updated as price reacts.
Tools used : @LuxAlgo
The ascending triangle pattern on the daily timeframe recently experienced a decisive breakout.
With a the relatively strong show of money leaving the market
On the 4H timeframe we are seeing some signs of incoming retracement
If we do end up getting the retracement to the point of interest You can seek entry on the lower timeframes such as 30 mins.
I will try to keep this idea updated as price reacts.
Tools used : @LuxAlgo
Comment:
It is also worth noting we have a bullish divergence on price
Order cancelled
C Nicholas Downie
At this point reversal signal or trend signal can be used as entry I am going to wait for a trend based signal but for reversal a signal has already been printed
Trend base outlook