US30 Has broken a very strong resistance at 32900 with a very strong force, I am now watching the pullback as it could provide a solid trading opportunity. There are two areas where price could hit before taking off. Looking at 32900 as the very first point where price could push, The second point would be 32850 which is the area I am interested in because it provides a much better risk to reward.
My Target is the high of 33320 as that would be the next pit stop I believe based on the current momentum. I will have a pending order entry for this trade, But be careful as it could easily just pull all the way back and flip bearish. If price does flip, I will be out of the market at 32770.
I am expecting a slow down of price around my entry price, if it does slow down and then create signs of reversing I will be entering another long position on this one.
Be safe on this one, Do not enter prematurely.
Renaldo Philander
My Target is the high of 33320 as that would be the next pit stop I believe based on the current momentum. I will have a pending order entry for this trade, But be careful as it could easily just pull all the way back and flip bearish. If price does flip, I will be out of the market at 32770.
I am expecting a slow down of price around my entry price, if it does slow down and then create signs of reversing I will be entering another long position on this one.
Be safe on this one, Do not enter prematurely.
Renaldo Philander