US30 imminent shorts down towards 37700.0

OANDA:US30USD   US Wall St 30
Last week, the US30 exhibited significant potential for a more favourable market environment, offering several promising trading opportunities. Following the completion of a Wyckoff distribution on a higher time frame, validated by a CHOCH, I anticipate a selling opportunity as the price retraces into a distinct 16-hour supply zone.

Although the price closed within the zone, it underwent a redistribution phase on a lower time frame, signalling a selling position. Presently, I am awaiting the breach of the upcoming Asian high to access a clean Order Block (OB) for initiating my sell position.

Confluences for US30 Sells are as follows:

- Price has completed a Wyckoff distribution on a higher time frame confirmed with a CHOCH.

- Clean unmitigated 16hr supply zone that caused market shift has been tapped into.

- Wyckoff re-distribution has taken place within the lower time frames.

- Lots of liquidity to the downside in the form of Asian lows, trendlines and equal lows.

- Price has been moving very bearish and it's getting exhausted hence why we got that bearish drop recently.

- For price to keep going up it must go down so we can expect temporary sells maybe down to a better demand.

P.S. While the market remains predominantly bullish, the recent downward movement was anticipated, signaling exhaustion of bullish momentum. This could mark the beginning of a bearish trend, presenting potential opportunities for short-term selling positions.



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