US30 - PRE NY SESSION ANALYSIS - 05122022
At the time of this post price is currently around 31600 and appears to be running out of gas.
During Asian and London session price has continued to push down.
US - PPI news at 8:30AM EST so we will see what effect this has.
Currently I don't see any entry for my edge, there may be some short-term countertrend buy opportunities but I am not targeting those.
I am going to wait for price to pull back up to previous levels of structure, aligning with support/resistance levels, supply/demand zones, and fib levels while price is exhibiting signs of exhaustion/reversal to get back in on another sell order to continue riding the downward wave.
Have a great trading day and see you after NY session today!
At the time of this post price is currently around 31600 and appears to be running out of gas.
During Asian and London session price has continued to push down.
US - PPI news at 8:30AM EST so we will see what effect this has.
Currently I don't see any entry for my edge, there may be some short-term countertrend buy opportunities but I am not targeting those.
I am going to wait for price to pull back up to previous levels of structure, aligning with support/resistance levels, supply/demand zones, and fib levels while price is exhibiting signs of exhaustion/reversal to get back in on another sell order to continue riding the downward wave.
Have a great trading day and see you after NY session today!