US30 Long Position
Updated
US30 is in a clear up trend on the daily and looks to be showing signs of a reversal on the 4hr. The swing high at 35100 appears to obvious to place a SL to get in on the reversal. I think we will have one more pump to take out sell orders at the swing high and also draw buyers into thinking the uptrend is continuing by briefly breaking the counter-trend line before dumping down to the 33500 support zone. Waiting for an entry at 85% retracement level of the previous impulse as this is the invalidation level of a B- Wave for a zig-zag correction pattern.
Trade active
2 weeks later we have reached our entry price
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