Something interesting is happening to price action on US30, after i and the team got stopped out yesterday on 0.4% stoploss i have decided to play safe with 1.0% stoploss, with this interesting signal on Daily TF looks like we will be having a great fall tomorrow, with the Double Top candlestick pattern, alot is to be bagged and if we are lucky we can close the...
Price went back up after a strong bounce as investors pile in on the buy-back. Now at a strong zone, formed a symmetrical triangle. So far bullish news regarding economic recovery and more retail traders on the bull train, probability of an upside break is high. We can target higher resistance zone.
If we have a break to the downside, it will be tougher to confirm...
The price broken up the old trend line (1) and tested 31537 as new support line in this week, So we could expect the price will touch 32125
If the new channel be fixed, we could have two targets 34331 or 14724 in third 70 bars
Have good trade
The strategy finds the rule in 4 years, every year, every quarter. The ratio of risk/reward 1/1 to give the success percentage over 55%.
Makes a second order has a better ratio. US30''s risk/reward: 1/1.86.
Look the right label: that rule has 14 times consecutive wins and 6 times consecutive losses in history.
+ A Long trend is when the price close & crossover the...
US30 is currently making new highs which will make buyer to sell their positions (psychology)
Fibs from previous big move will be perfect TP area ( 0.38 )
Stop loss above Higher High
Entry around 31250 - 31300
On 4H chart TDI is showing bearish trend beginning.
And there is a Bearish momentum squeeze.
Here we can see a probable fakeout of the rising wedge reversal pattern on the dow. Hourly moving averages are very bullish though we are a little extended from them.
The main thing is that as we come out of covid its clear that industrials will benefit massively and I expect them to really grow this year, dow will be a star performer....
Possibly a bullish shark pattern forming with a possibility of a profitable short position.
After a steady drive up on the bottoming of a steep down correction from the previous high reached Jan 21, we are now back up just short of it.
In an overbought market, there could be a large correction down after retesting the high.
If the high test passes we could see...