Short
Is the US30 Rally Coming to an end??
Updated
The last two days have been highly bullish, wouldn't you agree? Just enough to get buyers off their wallets to deliver a devastating blow. Last week we successfully sold US30 for 500 pips. I expect more of the same this upcoming week.
I've Identified 5 Different Structures that give us a price cluster, at a significant market level. Details Below.
Structure 1
S1 from swing high 34889 to swing low 31426 is the largest structure we used to capture the .618 Retracement.
Structure 2
S2 from swing high 34498 to swing low 31426 gives us another .618 Retracement.
Structure 3
S3 from swing high 33582 to swing low 31426 gives us the .786 - .886 retracement zone. (Only using the .886 as a part of the price cluster.)
Structure 4
S4 from swing high 32992 to swing low 31426 gives us the 1.272 extension
Structure 5
S5 from swing high 32765 to swing low 31727 gives us the 1.618 extension
We have been experiencing a lot of market volatility and had some consolidation the last few times price was at these levels. As always respect your risk and be patient with your entries. I took a more conservative entry because there are significant levels above the price entry. In case markets get wicky I would like to stay in it. Good Luck
STOP LOSS: 338876
ENTRY: 33570
TARGET: 32823
Was this helpful for you? If so like and comment! If not, please share with me how you feel these ideas can come across more clearly. Happy Trading
I've Identified 5 Different Structures that give us a price cluster, at a significant market level. Details Below.
Structure 1
S1 from swing high 34889 to swing low 31426 is the largest structure we used to capture the .618 Retracement.
Structure 2
S2 from swing high 34498 to swing low 31426 gives us another .618 Retracement.
Structure 3
S3 from swing high 33582 to swing low 31426 gives us the .786 - .886 retracement zone. (Only using the .886 as a part of the price cluster.)
Structure 4
S4 from swing high 32992 to swing low 31426 gives us the 1.272 extension
Structure 5
S5 from swing high 32765 to swing low 31727 gives us the 1.618 extension
We have been experiencing a lot of market volatility and had some consolidation the last few times price was at these levels. As always respect your risk and be patient with your entries. I took a more conservative entry because there are significant levels above the price entry. In case markets get wicky I would like to stay in it. Good Luck
STOP LOSS: 338876
ENTRY: 33570
TARGET: 32823
Was this helpful for you? If so like and comment! If not, please share with me how you feel these ideas can come across more clearly. Happy Trading
Note
With this much consolidation, and multiple tests of support at the bottom of our area of interest I would reduce risk, and pull some of the profit you may have.There were multiple opportunities to get in on the entry and exit at this support level. I still believe we will see a downturn but our #1 priority is to preserve our capital.
Trade closed: stop reached
The sharp move at 7:30 CST kicked us out of our original position. Multiple targets at support were achieved. Re-enter at your own risk.We expect a lot of volatility today when CPI releases, so maybe sit on your hands until it cools. I plan to re-enter around 34140, I anticipate a reaction to the downside. Happy trading
Trade active
The 34140 entry was spot on. A chance for two entries so far. Ride the move but move your stop losses to break-even/profit.
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