Quick analysis on us30
We have been rejecting from the 36250 key level on the daily timeframe
It appears we are breaking the low of a bear flag formation
I like 36000 to be the first target as a quick trade
but with the bear flag it looks like 35750 is its final destination.
I will be entering this trade on the minute chart (1minute or 5 minute)
Looking for about a 25 point risk with a 75 point profit target or 36000
Then I will attempt to reshort it after the pull back correction with a smaller position down to 35750.
All things pointing bearish.
If we open and pop above 36250 I most likely wont take any position or take my short idea off
We have been rejecting from the 36250 key level on the daily timeframe
It appears we are breaking the low of a bear flag formation
I like 36000 to be the first target as a quick trade
but with the bear flag it looks like 35750 is its final destination.
I will be entering this trade on the minute chart (1minute or 5 minute)
Looking for about a 25 point risk with a 75 point profit target or 36000
Then I will attempt to reshort it after the pull back correction with a smaller position down to 35750.
All things pointing bearish.
If we open and pop above 36250 I most likely wont take any position or take my short idea off
Comment:
*OPEN* meaning NY market open. My first trade will be within the first hour of NY market open. The sell down we are currently in happened over night and I did not take that trade
Comment:
super quick sell down on us30. was in the first trade for 4 minutes. Im going to post another chart on a much smaller timeframe for the second trade and link it here. (if I take one which most likely will in the next hour or so)
Trade closed: target reached:
the 36000 target has been reached. got in on the first pull down.
Comment:
These us30 trades take place extremely quick very often. Im going to explore new ways to bring my ideas a little closer to the action. One definitely going into smaller timeframes where I execute and perhaps post the overall view (larger timeframes) in the comment section. For a moment I was looking at some longs when price broke above 36100 but that quickly went off the table. The point being there wasnt time to express that thought and react in the live markets. Maybe even explore some live trading on here when it comes to us30 specifically. stay tuned.
Trade closed: target reached:
2nd target reached. played out perfectly. congrats if you were able to take advantage of this. Im thinking live trading on Tuesdays and Thursdays. Then doing some live market outlooks on sundays.
Comment:
us30 for today is just about done. Looks like we are nose diving towards 35500.
Taking a new entry would be a low entry.
Might sit out the market next week but if we get a high pull back short opportunity or vice versa I'll consider some positions.
us30 for today is just about done. Looks like we are nose diving towards 35500.
Taking a new entry would be a low entry.
Might sit out the market next week but if we get a high pull back short opportunity or vice versa I'll consider some positions.