US30 For continuity of movement, price action likes to move from one S&R Zone to another Zone as you can see on the chart below.
Take a good look at the last 5 candles. They are all just moving in tight and wide consolidation along the S&R Zone. That should tell you that the bulls did not rise above to "clear" from the Zone to use it as support and the bears did not drop below to "clear" from the Zone to use it as resistance. So, don't be fooled. There is NO Breakout from this S&R Zone yet.
The Hourly remains in Neutral (directional) Market Bias from the tall bearish candle still tethered to the Bearish Trendline (in red dotted line).
US30 I shorted at 48556.3. The big M that was forming was enough for me to short it. I think it will go lower, but offcourse I might be wrong. I am new to this! Good luck to all of you guys and thank you for sharing your thoughts! All the best!
US30 Does nobody look at Higher Time Frames (D , WK, M) or everyone rather just cry about manipulation?? The market has been a sell market for a while.
US30 A Clearing Needs to Happen: So far on the Hourly, it is in Neutral (directional) Market Bias from the current candle being tethered to the Bearish Trendline (in red dotted line). Once a bullish candle "clears" to go past the trendline without touching it, then the market bias flips from neutral to bullish.
A new S&R Zone just formed from consolidation.
Also, the last two candles tag-teamed to create a Bullish Outside Day pattern. If the bulls intend to rise more, a bullish candle in the new hour would have to breach the "limit" line of the pattern at 48,357 with a candle close past that price, then another bullish candle to "clear" past it without touching the line at all. That shows true intent by the bulls to keep climbing. If one or both don't happen, then back down again.
*Side Note: This bullish candle still forming is also an Anchor Bar (highlighted in yellow) as a climatic move from high volume. You may see consolidation within it's high or low until a breakout from either end.
US30 For continuity of movement, price action likes to move from one S&R Zone to another Zone as you can see on the chart below.
