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.