What's going on everybody! Hope you guys have had an incredible weekend so far and that all has been blessed! I just wanted to get on here and post a potential counter-trend short position here on US30 index. OK so I know most people are thinking "WHY WOULD YOU EVER SELL WHEN PRICE JUST MADE A HUGE RISE TO THE UPSIDE THE LAST 2 WEEKS!" And to be honest... that is why I'm looking to sell lol
As you can see price made an attempt a couple weeks ago to break below daily demand but the buyers immediately brought price back and brought it to the upside. This was actually a trade idea I posted and it hit TP so congrats to anyone who was able to take advantage of that. But now since price has been rising for some time with no correction, that is what I'm looking for now on this index. As you can see price is coming into a clear and strong supply zone, which is lining up perfectly with the overextended market US30 is in. Price can't go forever in one direction, it has ebs and flows. With this understanding along with price action and supply level I am looking for short positions to the downside.
You can also see on the 4H a seller tried coming in, but then buyer came in to make "new high" with price, but price is still overextended and I don't expect my Big Boy trader on the other side to be satisfied with such little discount. As they are probably taking profits also from buy positions at this zone. ANOTHER thing is that price is creating strong divergence on the 4H timeframe with this "new high" it has created.
OK, so you might be thinking like what does all of this mean for a trade.... what next? WELL...glad you stuck around because I'm going to tell you. Well actually IM GOING TO LET PRICE TELL ME! WHAT IT WANTS TO DO. IF I see price tap the supply then get smashed down by the sellers failing to create a true new high, then I'll be looking for then a LH to form and looking for potential shorts to the downside from there.
OK so hopefully that all made sense! Thanks for tuning in please boost this post, follow my page for more accurate top quality setups!
Cheers! God bless!
As you can see price made an attempt a couple weeks ago to break below daily demand but the buyers immediately brought price back and brought it to the upside. This was actually a trade idea I posted and it hit TP so congrats to anyone who was able to take advantage of that. But now since price has been rising for some time with no correction, that is what I'm looking for now on this index. As you can see price is coming into a clear and strong supply zone, which is lining up perfectly with the overextended market US30 is in. Price can't go forever in one direction, it has ebs and flows. With this understanding along with price action and supply level I am looking for short positions to the downside.
You can also see on the 4H a seller tried coming in, but then buyer came in to make "new high" with price, but price is still overextended and I don't expect my Big Boy trader on the other side to be satisfied with such little discount. As they are probably taking profits also from buy positions at this zone. ANOTHER thing is that price is creating strong divergence on the 4H timeframe with this "new high" it has created.
OK, so you might be thinking like what does all of this mean for a trade.... what next? WELL...glad you stuck around because I'm going to tell you. Well actually IM GOING TO LET PRICE TELL ME! WHAT IT WANTS TO DO. IF I see price tap the supply then get smashed down by the sellers failing to create a true new high, then I'll be looking for then a LH to form and looking for potential shorts to the downside from there.
OK so hopefully that all made sense! Thanks for tuning in please boost this post, follow my page for more accurate top quality setups!
Cheers! God bless!
Order cancelled:
seller never came in