If the trendline breaks will look for shorts on US30 and continuation in this channel,if the level above break the bulls will continue to push new highs. for now i think the price will be stay above 29600-30000 long term.
We are short on the DJ30 we expect a bearish push to the down side and any spikes above, as long as the pattern for selling remains active, we will short.
We believe there is a good chance of indices continuing to go down today and this week perhaps.
All the reasons we are short are listed in the chart.
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 has hit its tipping point, we could see a big push to the upside and make a higher high like NASDAQ did OR we could see a trendline break and rejection
I do see some bullish divergence on a lower timeframe which could mean this pair shoots up but we will have to wait for price to tell us what it is going to do
I belive US30 will come back to retest this support level before bouncing off again, I dont think its ready to take a nose dive just yet but some profits to be made here
As we can see from the chart previously once price broke the highlighted level it dumped but retraced very quickly. I anticipate once support is broken we are going to see an even bigger drop.
I have a few sell stops in just in case to catch the fall
I been researching for hours and hours on google trying to figur out when it is right time to make a trade because on google it tells me many things about double top that can be trap move??? I am scared that if i do it wrong i will mess up my trades?? I know google tells me that when price bounce off the support level, it is a sell. BUT i also saw that it broke...
