According to my calculations for W3 movement on current uptrend development of US30, it closed almost exactly on a target price of 17192.
Following the model, the W4 should start on Monday next week and bring us to 16789 or 16674. I personally think more on 16789 as 16782 owns a year-to-date 61,8% Fibo line and also EMA 100 is there while 16674 doesn´t have any significative indicator nearby.
Therefore, I´m short for next week, eyeing the FOMC statement on the 16th of March.
A short position has already been opened at 17200, just before Friday closing.
SL: 17350, above a trendline
TP1: 17000
TP2: 16674
Once we achieve 16789 level, I close the short position and open new long position for a W5.
Trade safe!
Following the model, the W4 should start on Monday next week and bring us to 16789 or 16674. I personally think more on 16789 as 16782 owns a year-to-date 61,8% Fibo line and also EMA 100 is there while 16674 doesn´t have any significative indicator nearby.
Therefore, I´m short for next week, eyeing the FOMC statement on the 16th of March.
A short position has already been opened at 17200, just before Friday closing.
SL: 17350, above a trendline
TP1: 17000
TP2: 16674
Once we achieve 16789 level, I close the short position and open new long position for a W5.
Trade safe!
Trade closed manually:
As you may have noticed, the quote haven't even approached target leves. Therefore, I'd suggest to make profit of a bear movement right now and close your short position if you still haven't done it
Please, follow your strategy! Always!
If there is no strategy that has proven itself successful, please do not trade with real money!
If there is no strategy that has proven itself successful, please do not trade with real money!