US30 📊 US30 Technical Analysis – Rejection at Resistance, Pullback in Progress ⚠️
What traders are saying
US30 📊 US30 Technical Analysis – Rejection at Resistance, Pullback in Progress ⚠️
US30 the day is over accept your profits and if you took losses( I’m -$115 today but that was small) accept those too. Save some of the bag to trade another day.✌️
US30 tradingview.com/x/IVgTlnLP moneys on the downside though it’s at a pivot level. hedged here !
US30 I want to wish you all a Happy Valentine's Day that's tomorrow.On the Hourly chart below is the giant W-shaped pattern. It's a "W", dedicated to the "Warm-hearted" - for all the lovers and no others.
US30 what next?
US30 Why the Struggle?Look at the Hourly chart below. The bulls are in the middle of two strong Resistance Areas created by the previous, two very tall bearish candles' midlines at 49,584 and 49,844 to their highs. You can see them labeled, which also explains that from the midline-to-high of these two tall bearish candles are strong Resistance Areas. This is based on Japanese candlestick analysis.
Also, this is a reminder that the Hourly is newly in Bullish (directional) Market Bias, which means that the more profitable moves will be bullish ones, compared to countertrend moves. Going countertrend to the Bullish Market Bias will increase your risk by 50% or more, even if you profit from it.
DJI booked some nice profit, now, back to 48800
people are getitng burnt today
US30 back to bearishUS30 The Hourly just flipped to Bullish (directional) Market Bias after breaching the Swing High of 49,501 and candles moving now to the right of the Bullish Trendline (in green dotted line).The last leg of the W-shaped pattern is forming, which is typically a long bullish trend.
I'll re-post the potential Take Profit projections to the upside from earlier this session:
49,761 - Current Mean Reversion Level of the 4-Hour Timeframe
49,805 - Midline of Previous Tall Bearish Candle Serving as a Strong Resistance Area
49,900 - Current Mean Reversion Level of the 8-Hour Timeframe
