As I am still bullish on US30 this idea is a temporary move that I see playing out due to the past couple days being very bullish. As im expecting a pull back/retracement of some sort, I will be looking to take the sells at the 22hr supply zone. I will wait and see for price to show me its hands then go from there. As price hasnt slowed down yet im still waiting for price to distribute soon so we can take sells back down towards 33000.0
Scenario (A) - Is just for price to enter an area of supply which is at the 22hr supply zone. Then we will need our lower time frame confirmation to tell us that price is ready to drop like a choch and a wyckoff distribution. There is a 3hr supply below however, I feel like it will get violated hence why I will be waiting for the 22hr as that zone has also swept liquidity above.
Scenario (B) - Is for Price to sweep this major high and retrace back down towards our designated target around 33000.0. This is were im expecting price to slow down and accumilate orders for us to start entering our buy positions. Then from there we will ride with the trend up to maybe new higher highs.
Confluences for US30 shorts are as follows:
- Dollar has shifted trend to the downside so im expecting this market to be bullish.
- Price has had a lot of impulsive moves to the upside that it needs to come back and retrace back to.
- Price is approaching level of strong supply that will potentially cause price to come back down to a cheaper price so we can enter our buys.
- There are lots of imbalances below as well on HTF and if price wants to continue going back up it needs to retrace and pick up liquidity to beign a new rally.
P.S. I am expecting US30 to make new ATH's so if we get into buys we could possibly hold all the way to premium price levels. This is also backed by DXY as if thats now going down I will be expecting this market to rally up even more. In addition to this, sentiment analysis also expects US30 and NASDAQ to be very bullish which adds to our confluence for FUTURE buys!
Scenario (A) - Is just for price to enter an area of supply which is at the 22hr supply zone. Then we will need our lower time frame confirmation to tell us that price is ready to drop like a choch and a wyckoff distribution. There is a 3hr supply below however, I feel like it will get violated hence why I will be waiting for the 22hr as that zone has also swept liquidity above.
Scenario (B) - Is for Price to sweep this major high and retrace back down towards our designated target around 33000.0. This is were im expecting price to slow down and accumilate orders for us to start entering our buy positions. Then from there we will ride with the trend up to maybe new higher highs.
Confluences for US30 shorts are as follows:
- Dollar has shifted trend to the downside so im expecting this market to be bullish.
- Price has had a lot of impulsive moves to the upside that it needs to come back and retrace back to.
- Price is approaching level of strong supply that will potentially cause price to come back down to a cheaper price so we can enter our buys.
- There are lots of imbalances below as well on HTF and if price wants to continue going back up it needs to retrace and pick up liquidity to beign a new rally.
P.S. I am expecting US30 to make new ATH's so if we get into buys we could possibly hold all the way to premium price levels. This is also backed by DXY as if thats now going down I will be expecting this market to rally up even more. In addition to this, sentiment analysis also expects US30 and NASDAQ to be very bullish which adds to our confluence for FUTURE buys!
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