US30 hasn't finished its bearish leg. According to our analysis, we are still in wave C of the major ABC correction. Wave C has 5 waves are we are currently on the 3rd wave (which is also made up of 5 subwaves)
For this trade idea, we require some time for the subwave 4 to appear, which will look like a correction. Once we see this correction, we can use a simple trendline and watch for it to break and enter accordingly.
Trade idea: - Watch for subwave 4 correction to appear - Draw a trendline for this correction - Entry: break of trendline - SL: above price once the trendline breaks