US30 This would be nice if it happened
Community discussions
US30 This would be nice if it happened
US30 I got out at 47,562.55 the bulls were putting up a fight. I was satisfied with half way to 47,500. Good luck to those who are in a sell and want to ride it all the way to 47,500. The bulls are fighting hard!
US30 I'm in look at my post for tp
US30 I look for these setups there was a move to the down side at 8 a retracement at 9 and we're looking for continuation to at least 47,500, or half way there. So sells? who knows?
US30 *Side Note:Congratulations to Silver. It reached the finish line to go past $60. The big institutions have been trying hard to keep the spot price of Silver from reaching $60. They've been suppressing Silver for decades.
US30 If the bears on the Hourly breach the Inside Day at its low of 47,681 for a true breakout, then they can head for the Swing Low of 47,601 and S&R Zone that begins at 47,582. But if it's a false breakout from the low of the Inside Day where the bulls show up in the new hour to tether to the pattern's low at 47,681, then back inside the Inside Day to go up again.
US30 A giant Inside Day pattern formed on the Hourly. That means a market pause with no clear direction for the candles to consolidate until a breakout, which can be from the pattern's high of 47,948 or low of 47,858 (shown as two orange lines).If a true breakout from the high of the Inside Day at 47,948, it would be within a two-tiered S&R Zone to break through and head for the Swing High of 47,998 to breach with a candle close past that level to rise more. A Bearish Trendline (in red dotted line) is acting as a strong "rope" of Resistance. If one or more of these Resistance levels can't be breached, then back down again.
DOW Look at how price respects this upper down trendline
US30 Did Not Expect That Move Going Up:I thought the market would drop more to form the giant W-shaped pattern, then go up.
So switching to the Daily, the current candle still forming is nearing the Bullish Trendline (in green dotted line) and still moving within the new S&R Zone. If the bulls tether to the trendline, this would make it the 10th Daily candle to do so.
We'll see if the bears show up to drop down more towards the current mean reversion price of 47,377 or rise above the S&R Zone towards the Major Pivot High of 48,107 from a previous Spinning Top (circled red arrow) to get near or breach to rise above that level.
What a tricky start for this session.
US30 Looking at the Hourly, it is in Bearish (directional) Market Bias. The bears are dropping down from a two-tired S&R Zone with a Bearish Harami and headed for the Inside Day pattern's low of 47,601 (shown as an orange line) for a breakout. If a true breakout, then they can drop down more, but also needs to breach the Swing Low of 47,601 and the S&R Zone, right below that.*Take Profits to the Downside:
47,524 - Low of Inside Day for a Breakout on the 8-Hour Chart
47,520 - New Swing Low on the 4-Hour Chart, Based on ATR
47,363 - New Swing Low on the Daily Chart, Based on ATR
47,354 - New Swing Low on the 8-Hour Chart, Based on ATR
