Happy Monday, traders.
Here’s my latest analysis and trade idea for US30. Since April 6th, US30 has been in a strong bull run, breaking above the descending weekly trend line while continuing to print higher highs and higher lows.
Although price action has shown some uncertainty since May 22nd, the bigger picture remains bullish it’s just noise. The trend is intact, and we’re now pushing back above the 50 EMA.
Currently, US30 is forming a wedge between two descending trendlines I’ve marked on the chart. I expect some consolidation within this structure, with a potential pullback into my entry zone.
From there, I’m anticipating another short-term push higher, with a target in the Golden Zone between 43,100 and 43,400. My entry range is between 42,179 and 42,481, with a stop-loss just below the current swing low at 41,980.
I expect this move to develop sometime within the next couple weeks.
What do you think will it play out? Let me know in the comments.
US30
Here’s my latest analysis and trade idea for US30. Since April 6th, US30 has been in a strong bull run, breaking above the descending weekly trend line while continuing to print higher highs and higher lows.
Although price action has shown some uncertainty since May 22nd, the bigger picture remains bullish it’s just noise. The trend is intact, and we’re now pushing back above the 50 EMA.
Currently, US30 is forming a wedge between two descending trendlines I’ve marked on the chart. I expect some consolidation within this structure, with a potential pullback into my entry zone.
From there, I’m anticipating another short-term push higher, with a target in the Golden Zone between 43,100 and 43,400. My entry range is between 42,179 and 42,481, with a stop-loss just below the current swing low at 41,980.
I expect this move to develop sometime within the next couple weeks.
What do you think will it play out? Let me know in the comments.
US30 Trade active
Entry zone has been reached. Positions entered at 42,425 and 42,360. Let's see how this plays out 💸Note
Due to current market conditions, I believe another short-term low below 41,990 is possible before this trend continues toward the next mid-term high (Golden Zone). As a result, I’ve widened my stop loss to 41,150, and I’ll be adding extra long positions between 41,800 and 41,650.Nothing has changed in terms of the overall trend, it looks like we’re just pulling back deeper into the channel than expected. As long as price holds above the previous higher high at 41,160, the bullish structure remains valid.
Expectations for this trade are still strong. If we do dip lower, I don’t expect price to break much below 41,650 — that zone has shown solid support. Could just be another textbook liquidity grab before the next move up.
Trade closed: target reached
Howdy Traders,Today's a great day! US30 is sitting at 43,130 right in our target zone. Ive partially closed out 70% of the position and locking in profits, i do still see potential for a push higher toward 43,600 in line with momentum so i will be holding the rest for now.
Calling this one a win though and wrapping up this trade idea here, hope someone was able to get in on the action.
See you on the next one ✌️
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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.