US30 - Watch Buy Zone!
US30 is creating a really interesting pattern.
We could be in an impulse/diagonal - Both of which follow similar rules. Wave 2 was a clear flat correction = 335, which broke out upwards of 23%!
We are seeing a similar correction to wave 2 now. Typically wave 4 retraces atleast to the 38.2 fibonacci level. This is where we'll have our buy zone.
We want to see 5 wave move down for subwave C (of wave 4). If all goes according to plan, we can draw an entry trendline using points 2 and 4 of subwave C to catch the 5th move higher.
Should be an easy trade!
Will update this setup if this gets enough engagement.
Goodluck and as always, trade safe!
We could be in an impulse/diagonal - Both of which follow similar rules. Wave 2 was a clear flat correction = 335, which broke out upwards of 23%!
We are seeing a similar correction to wave 2 now. Typically wave 4 retraces atleast to the 38.2 fibonacci level. This is where we'll have our buy zone.
We want to see 5 wave move down for subwave C (of wave 4). If all goes according to plan, we can draw an entry trendline using points 2 and 4 of subwave C to catch the 5th move higher.
Should be an easy trade!
Will update this setup if this gets enough engagement.
Goodluck and as always, trade safe!
Note
US30 12H - For those looking for short term sells, watch for the minor wave 2 correction to form and enter on break of that correction using the highs as invalidation.For those looking to only take the swing trade long, we'll draw an entry trendline using points 2 and 4 and then catch the breakout for the 5th wave
Note
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Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Want more chart ups like this? Click the links below:
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Forex: t.me/Wicktator
Crypto: t.me/Crypto_Wick
Forex VIP: t.me/WicktatatorVIP_bot
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.