US30 Last Call for this Session: Check out the Daily. Do we have a neckline forming on this very tall M-shaped pattern? If that's the case, then the 3rd leg of the "M" will be to create the second peak.
Also, check out the Minor Pivot Low (with green arrow circled). It suggests that we can potentially have a pivot to the upside with another bullish candle tomorrow.
We'll see how this all plays out.
*Side Note: Watch how this last candle closes in relation to the previous, tall bearish candle. It can either close as a Bullish Harami, Piercing Pattern (that needs another bullish candle for confirmation), or a Two Bar Reversal. All of them suggests a move to the upside coming.
US30 Be Careful! The tall bullish candle is still tethered to the Bearish Trendline (in red dotted line), making it Neutral Market Bias with one part of the candle on the bearish side and the other part of the candle still forming is on the bullish side.
For an official Bullish Market Bias, a new bullish candle needs to form that is to the right of the trendline and doesn't touch it with any of its candle parts. And it's still tethered to the high of the Inside Day at 46,718 (shown as an orange line).
With a Bullish Market Bias, the bulls can head towards the S&R Zone above that being at 46,909. We may get a bearish retrace to retest the trendline before a greater move to the upside.
*Side Note: Another reason to be careful is that the bullish candle has a long lower wick that will eventually need filling.
US30 Switching to the 4-Hour, you can see that the tall bullish candle still forming had rejected a breakout at the Inside Day pattern's low of 46,441 (shown as an orange line) with its lower wick.
As the bulls rise from the S&R Zone, they can head for the Inside Day's High of 46,858. If a true breakout, then they can go towards the Minor Pivot High of 46,996 (with pink arrow circled). But if the bulls don't reach or breach that Inside Day high of 46,858, then back down towards the S&R Zone that starts at 46,522.
US30 Surfer Alert! We've got a Double Inside Day on the Hourly, so a BIG move is coming, either to the upside or the downside for this session. Get ready!
US30 extreem choppy first up lol then down and 46570 is support now lol for me big l today I was expect a big Sell I was wrong today… enjoy and good luck everyone
US30 Not the best day but worry not tomorrow is Friday the best trading day, and don't forget lots of inflation news coming in tomorrow as well which could lead to high levels of volatility.
US30 Last Call for this Session:
