Very similar to spx500 it seems. Price failed to put in a HH and it is also at a resistance level on the daily. We see price put in a lower low, and then a lower high, which could signal bearish movement on the way. I'm keeping my eye on this one to see if another lower low can be achieved to confirm a reversal in the uptrend on US30.
A few days ago I posted about a potential double top forming on SPX500 after a strong uptrend. Well Price has yet to break the resistance level.
It is also forming another double top on the 1hr Timeframe. I would keep my eye on this to catch the beginning of a new downtrend.
Also on the daily price shot down to create a lower low prior to this price action we are...
Double top reversal pattern started this descending channel.
Waiting for a bearish candle to form to confirm a push to a lower low. Price could be making its way to the daily trendline I have put that trendline in black on the chart to show
where the channel could be headed.
Price is trading in an uptrend after we had a double bottom reversal pattern, I would expect price to continue this uptrend so I have placed a buy at the higher low with a target at the next higher high.
Price has formed a double bottom at support on the daily timeframe. Scaling down to the 4hr we see a clear trading zone within a triangle which I am waiting for a breakout to to the upside to confirm bullish movement. I would enter a buy at the close above the triangle being a bullish candle.
Pinbar formed inside of our pennant pattern. I would like to see price break out of this pattern and close beneath the demarcated trendline to confirm a downside push hence a sell entry would be probable.
I believe price is attempting a lower high to stay in line with the current daily downtrend. A pinbar has formed at the top of the most recent pullback, leading me to believe a downside push could be in the wings.
Price has also created an ascending wedge that would need to broken to further confirm a downside push.
Price at resistance level on daily during a dominant downtrend. Scaling down to the 4hr we see price has formed a double top at this same level. Which could hint towards bullish exhaustion prompting bearish pressure to come in and push price lower.
This could cause a shift to the downside if we can see price break through the lower trendline.
Potential double top could be forming on the daily hinting at a new downtrend coming soon.
NFP last week pushed us up but the bear quickly brought SPX back down to reality and now we are looking at a further push to the downside should price break the necessary trendlines.
I am seeing heavy consolidation at this resistance level when scaled down to 1 and 4hr...
US30 seems to be consolidating near the daily resistance level. Next week I will be watching for a break of this consolidation area to the upside or downside to determine which bias I'd be taking.
NFP and unemployment rates were favorable so I am curious to see if this will cause a break of the resistance zone or a bounce back down to the downside.
Probably will hop into more short positions after the weekend. We have a double bottom formed on the 4H. We see the huge upside push from the neckline break. We should start seeing lower prices for GBPAUD next week as price makes it way back down to the neckline for a retest of the pattern.
Most of my analysis are short term analysis. Not a long term bias, btw.
I am currently long on this pair. We can see price attempting to create a higher high. It does seem to be struggling with breaking the previous high of 1.26705 so I'll be keeping my eye on it. Once I see that it has been broken I would start looking for higher levels of price action to occur.