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!
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