Hello Guy, I closed the us30 buy position mainly cuz i believe it would go back to entry
Why i see it dropping:
- overall weekly trend is down and looking at the price action i seem it going down
(Because price never goes straight up it will do pull back or drop so have that in mind)
- I see the price making double top at the 0.618 fib level
- Risk 1 to 2% on...
Looking for more downside on US30 as we have broken the previous uptrend. Once price action completes that 3rd touch of it's current correction, which lines up with a previous swing at 24400 and the 71% fibonacci level this could look really clean for short positions.
Join our free telegram: t.me
The dow is heading lower and lower, but I believe within the next 1 and a half to two years (once corona is over and hopefully they make China pay compensation for the viruse's damages) it will go up along with the S&P and the US market as a whole really...
As of now, the way I see it is (and I might be wrong) that investors are:
1. Losing faith and confidence...
On the monthly we have seen divergence which indicates a change in trend is coming, price has retraced from 50.0 on the fib scale and is touching 23.. price should now flutter along this level until its eventual collapse... HUGE GAINS BOYS and GIRLS
Daily Notes. Updated through the day.
*not actively looking to trade today with it being end of month.
Bias S rallies and potential for L scalp trade on VP Level.
Order Hit. L - VPSV level (support) (24320) T1: (24500)
Key Call Outs.
DOW30 is Bullish - We look to Buy at 24350
▪️ The overnight dip has been bought into and there is scope for further bullish pressure going into this morning.
▪️ A higher correction is expected.
▪️ Previous resistance level of 24550 broken.
▪️ Signals are mixed but remain mildly bullish with a short-term timeframe highlighting an exhaustion count.
▪️ We look...
I'm paying a very close eye to US30 - we're right on the 78.6%, daily 50 ema, right near a trendline retest and we also have some market structure.The is a possibility that price could pop up to the daily time frame 78.6% fib. Probably vs possible 💭
Dow Jones is back at a bearish trendline and appears to show rejection. Would be a good place to short here after todays spike up providing a high reward:risk short trade entry.
Stops above the trendline and highs, being conservative with 200 points or more.
Profit targets at the previous lows around 22,900 and then final TP at a lower low shown on the chart.