US30 will go downCommunity discussions
US30 will go down
US30 Just back from a Sunday Drive. Looks interesting! On the Hourly, we have an overlap between a S&R Zone and Gap Up.
To properly fill that Gap, it can't be with a wick running through it. There must be a candle close past 47,045. If that doesn't happen, we'll get a Micro-Double Bottom; the strong forces of Support from the Gap Up will keep the candles moving above it; and the bulls can rise towards the top of the S&R Zone (at 47,099). But if the Gap does fill, we'll get a boost down towards the current mean reversion of 46,957.
*Side Note:
Price action is much closer to the Bearish Trendline (in red dotted line). We may see consolidation as the candles move along/above the S&R Zone to cross the trendline and go above it, flipping the market bias from bearish to bullish.
US30 Sell before buy strategy for this week, I am selling from 47,340 to 46,350 - SMC straightforward profit setup.
US30 Another huge gap up that will need closing, but bare in mind the last two gap ups took a while to close perhaps this will just keep on heading up.
US30 Good morning traders, price is approaching the top line of a trend line of a descending channel, it's set to break out of it, when it does, wait for a bullish candle to form above it, then go in for the buy.US30 For a Higher View:Take a look at the Daily chart below. The drop from the Major Pivot High (that is also the Swing High level of 48,037), an S-Hook formed (outlined in red), which is a continuous bearish trend with curves made from consolidation.
The low of the last candle that is a tall Bullish Pinbar is at 46,472. If a J-Hook forms (outlined in green) from this low, which is a continuous bullish trend with consolidation(s) to create its curve, then we'll have an Inverse Head-and-Shoulder pattern.
S-Hook + J-Hook = Inverse Head-and-Shoulders
J-Hook + S-Hook = Head-and-Shoulders
US30 Looking at the 4-Hour timeframe, the Popgun pattern is still in play to make the 3 swings that move like a See-Saw.Here again are the sequence of the swings after the pattern appeared: Down-Up-Down. The 2nd swing is still in the works.
After the bull run is over, we'll see a pivot for the bears to swing to the downside. It can appear like a long move on the lower timeframes.
*Side Note:
The last candle is a bullish Trending Bar that shows great conviction, especially as a tall one with a tiny upper wick - almost a Maruboza in appearance. The likelihood for the bulls to continue their trajectory is great as a trending bar - towards the high of the Inside Day at 47,454 (shown as an orange line). Let's see if the bulls can make it to there. The Bearish Trendline is nearby to cross and flip the market bias from bearish to bullish if they do.
US30 On the Hourly, the bullish trend can continue towards the Bearish Trendline (in red dotted line), due to its proximity. The close price action is to a trendline, the more "attracted" it becomes to cross above it, flipping the market bias from from bearish to bullish.*Take Profit Projections to the Upside:
47,149 - Creation of a New, Major Pivot High
47,289 - Measured Move, Based on a Previous Bull Run from November 6th
47,302 - Mean Reversion Level on the 8-Hour Timeframe
47,377 - Top of S&R Zone on the Daily
**A giant W-shaped pattern is forming on the Hourly with the last leg as a long, bullish trend.
US30 it might go up this week
US30 us 30 will go down tomorrow