Dow Jones is gearing up for a downwards swing but price won't go without a fight.
Previously we had a money distribution swing collecting and trapping buyers/sellers liquidity, price is simply toying with people that are holding on tight to sells now.
I would expect one last upside push into our area of interest before a significant collapse.
US30 looking to retrace back up having completed the 3rd almost equivalent impulse. Looking to see it pullback to then give another 200+ point drop.
Entry zone is highlighted in green.
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Entry details are shown on the chart.
We're only looking for TP3.
This trade has already gone close but we stick to the plan.
Lets see how the rest of this trade plays out.
Trade history can be seen below this trade idea too for full transparency.
I try and share as many ideas as I can as and when I have time. My...
We can see some retracement on the lower TF before price move long on US30 (30M-TF) seems to be ah good entry for long opportunity
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I think there is a great chance for another bull push on US30... and there are a lot of solid reasons for that.
Some of the reasons are....
- bull continuation
- higher hiws
- higher lows (if it holds)
- Donchain channel creating bullish push
We recently went short Silver (XAGUSD)... we dont see a GME on it... Infact we think the hedge funds might just pull a sneaky on everyone!
Anyway our shorts are locked. Moving on to US30 long.
We see lots of potential for a day trade profit on this one. We have a bullish continuation pattern indicating that we could see a strong push up.
BUT! When price comes...
As we can see from this chart DOW has broken above its previous resistance level and has now entered an area where it plummeted before
There is an opportunity to go long here if price action indicates the move OR price will get rejected from this area and move lower.. there is also a chance price might range in this area for a short while but we will have to wait and see