US30 - SELL IDEA
Looking at the US30 30-minute chart, I can see a clear pattern indicating a potential downward move. The market appears to have completed a corrective wave (b) after a five-wave upward structure. Now, it seems poised for a continuation of the decline, targeting the 1.618 Fibonacci extension of wave (c), which aligns with the price level around 40,840.31.
This setup suggests a bearish opportunity, where the index may experience further downside pressure. It's a situation where short positions could be considered, with profit targets aligned with the Fibonacci extension level. The current price action and wave structure support this outlook, making it a potentially favorable trade.
This setup suggests a bearish opportunity, where the index may experience further downside pressure. It's a situation where short positions could be considered, with profit targets aligned with the Fibonacci extension level. The current price action and wave structure support this outlook, making it a potentially favorable trade.
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.
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.