Guys US30 there been alot of buy pressure. However As you can see the zone buyer are very likely to get trap SHORT TERM trade (SELL) Move ur SL to 24860 - buyers losing momentum - hard pull back is needed - going to 0.5 fib as I have a buy limit there(unfilled orders) - more of a manipulation trade - looking for two entries but you one should be fine as risk to reward is great - Second entry is more safer Goodluck guys and risk appropriately.
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Guy on a 5 min candle price came back and filled the order which is usually a good sign. Currently Price at the enter I expect it to go down
may i ask how you know this is a "buyer trap zone" and simply not price breaking through, coming back down for a retest before pushing back higher after being in a range for so long? Thanks.
lewiswillitt
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@lewiswillitt, scrap what i just said, looked further left to see a high that price is currently rejecting. thankyou for opening my eyes
AyDevilss
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@lewiswillitt, Hello, okay if you look at the price action buyers were getting weaker as candle was getting smaller and smaller So market makers kept on breaking small resistances to look like price is going to break through. However all there were doing was taking the liquidity out so they can make push to the downside. US30 been very bullish. You haven't seen a big pullback yet. Plus it still hasn't broken the higher high making on the bigger time frame. Personally my entry was not good as it was risky but it paid off but price should reach 24020 that my prediction as there are unfilled orders waiting to be filled
lewiswillitt
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@Skrrace, thankyou, any explanation as to why the whole of the 25th may candlesticks have been wiped and a gap up in the market has occurred? im extremely confused and now in negative profits due to it
AyDevilss
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@lewiswillitt, well today was bank holiday and us memorial day so there wasn't much of a move