We've gad some interesting action recently with the indices. Price broke ATH recently and wicked back into previous price. I believe this wick was to take out all the stops and grab liquidity from above. The daily candles which followed seem to be a bearish pattern forming. I have displayed a couple of potential long term targets.
Im short on US3 and still long on NADSADQ, since the elections they have a negatvie correlation and this trade looks like a solid sell!
RSI is over bought, price rejected 38.2% of the recent high to low and created a rejection / reversal candlestick
Furthermore, a trendline has supported price heading to the levels and price moved slowly after a big drop...
US30 - Buy is valid
The entry price, SL and multiple TPs are shown on the chart.
Our back testing and money management strategy itself is holding until a reverse signal to ride a big trend, but as you will not see the next signal - manage the trade as you wish should you decide to enter.
What is our strategy?
Our strategy is a trend following strategy, can...
Potential for a intraday reversal to occur here with a lower high to form. This would then see price start to make it's 5ht bearish wave down to a new lower low at the 27,500 support zone or lower.
Price is inbetween the 0.786 and 0.618 fib retracement levels so shorting would need a conservative stop loss placement in my opinion. There is the 1hr 50EMA to keep...
Still time to review and consider this one - not far from entry price.
This entry is based on our specific parameters for US30 as you can see in the bottom graph - almost a 1000% gain since 2018 with a fixed 1 contract size, no compounding!
We are aiming for TP3 or closure for a reverse trade for target, but manage as you wish should you enter for those...
I'm considering this trade, I'm not too familiar with fib but I am trying new strategies. Any recommendations would be great! Currently a very over bought market on my stochs. It has already fallen -0.16% for the day from its high. I recognise these are unprecedented times and anything is possible so would like some outside perspectives.
the daily chart of this market shows that it will experience an uptrend but also it is better to be vigilant of the change of this market towards the opposite direction
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the daily chart of this market shows that it will experience an uptrend in the next few days but you should not enter a buy before the resistance breaks out at the 998 level but at the same time it is better to be vigilant of the change in the direction of this market
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