US100 M30 – Sideway at the Top - Short Opportunity

The US100 index has experienced a strong upward move on the 30-minute chart, pushing price to a new high around the 24,800 – 24,850 zone. However, recently, price has been moving sideways within a narrow range, forming a consolidation phase near this key resistance area. This sideways action signals a potential short-term correction or trend reversal.


📉Technical Analysis:

• Current Sideways Zone: Price is consolidating between approximately 24,800 and 24,850, repeatedly testing this resistance but failing to break through decisively.
  
• Key Support Level: The 24,650 – 24,700 zone is acting as critical support, holding price during this consolidation.
  
• Support Break Signal: A close below the 24,650 – 24,700 support range would confirm the start of a downtrend and signal a likely bearish move.
  

📊 Trading Plan

• Sell on Support Break: If price closes below the 24,650 – 24,700 support zone, consider entering a short position targeting the next strong support area near 24,400 – 24,350.
  
• Sell on Retest of Sideways Zone:
  
• After breaking support, if price pulls back to retest the sideways zone (24,800 – 24,850) and shows bearish rejection signals (e.g., pin bar, bearish engulfing), this provides a good opportunity to enter or add to short positions.
  

⚠️Risk Management:

• Stop-loss: Place above the sideways resistance area, around 24,860 – 24,870, to avoid false breakouts.
  
• Take profit: Consider partial profit-taking near 24,650 – 24,700 and final targets around 24,400 – 24,350.
• Wait for Confirmation: Avoid entering trades without clear support breaks or bearish rejection signals to minimize risk.
  

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