This idea shows my anticipated new all time highs on US30, The key is to get on a higher time frame, make analysis and enter on small time frame to increase the RR.
However, in this idea, the RR is almost 1:1, but if you are familiar with important market concepts you can reduce the stop and increase the RR on this trade.
I am still long on US30 until I see a...
Subject: After yesterday's growth of Dow Jones, today we realized that it has hit the resistance area of 34,700
This area is very important for the following reasons
1 - is the round number
2 - As you can see in the picture, this number is located on the ceiling of the Fibo channel
3 - In the past, the price has reacted to this area many times
As a result,...
Key zone: 34920. Either major major sell if it does not break it, so I will shoot through upwards and get back into the Nov uptrend.
Most forecast I have seen though so far points to sell(short) direction movement.
I see Us30 for a sell after it must have taken out the previous high, I personally think that this pair is currently over bought and we should be expecting a long term sell sometime this month...
NB: anything is bound to happen in the financial markets, I am only sharing my view of the what I see in the market. Thank You
REBOUNDING TO PREVIOUS HIGHS IN ORDER TO ESTABLISH NEW HIGHER HIGHS FOR THE YEAR. MOREOVER, FOR REFERENCE CONSULT THE U.S ECONOMIC DATA FOLLOWED BY NASDAQ'S RECENT PERFORMANCE, THUS ALSO YOUR TECHNICALS. BUT ALL IN ALL, JUST BUY!!!! ITS A GIVEN :D
After the massive drop during the pandemic in March 2020, US30 managed to recover all of its loss and managed to create new highs. We are now at a significant level now where price can either continue pushing higher or we could turn bearish. It's important to note that the FED announcement is today which will have a big impact.
Keep a close eye on the the 34100...