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ryanweier
May 13, 2022 10:57 AM

US30 - PRE NY SESSION ANALYSIS - 05132022 Short

US Wall St 30OANDA

Description

US30 - PRE NY SESSION ANALYSIS - 05132022

As anticipated, price pushed back up during Asian and London session and is now hanging out around the 32000 level.

I have entered a sell position @ approximately 31960 with a 100 point stop which is clearly above previous recent structure lower highs.

There is also confluence in this area with the MA 66 acting as a static resistance, the 23.6 fib level, and a random support/resistance level which is also behaving as resistance at this time.

I am anticipating for price to drop to retest this week's previous low of approximately 31200 which is my TP.

I'll be moving my stops into profit as it starts heading in my direction.

If I get stopped out I'll probably call it quits for the week unless I see price pullback to the 38.2 fib level and show signs of exhaustion/reversal to consider a re-entry.

No major US news today which is good.

Good luck today and see you after NY session this afternoon!
Comments
Khaldoon2311
Good chart, but please enter your position after the NYC session opens, we might see the price jump a to the res area then from there to drop
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