Technical Justification:
Daily Chart:
• Oversold Conditions: RSI is at 35.90, approaching oversold.
• MACD is deeply negative (-905.428 / -831.781), signaling extended downside and a potential for a mean reversion bounce.
• Price recently bounced sharply off a support area around 37,800–38,000, forming a possible bullish rejection wick.
15-Min Chart:
• Bullish Divergence visible in RSI and MACD.
• RSI rebounded from sub-30 to 52.10, signaling strengthening momentum.
• MACD histogram has reduced in negativity, suggesting decreasing bearish pressure.
3-Min Chart:
• Clear short-term uptrend forming after a strong intraday drop.
• RSI 62.56 and MACD turning positive show bullish momentum building.
• Price just reclaimed a key intraday level (~38139) with follow-through.
⸻
Fundamental Bias:
Recent oversold market conditions, combined with potential short-term relief rally due to earnings optimism, Fed rate pause speculation, or geopolitical cooling, support a tactical long bias.
⸻
Trade Setup:
• Entry (Buy): 38,150
• Above the minor resistance turned support zone and confirmation of bullish momentum.
• Stop Loss (SL): 37,800
• Below the recent strong support zone from Daily and intraday.
• Take Profit (TP): 38,750
• Just below the next major resistance zone on the 15-min/1H chart.
US30
Daily Chart:
• Oversold Conditions: RSI is at 35.90, approaching oversold.
• MACD is deeply negative (-905.428 / -831.781), signaling extended downside and a potential for a mean reversion bounce.
• Price recently bounced sharply off a support area around 37,800–38,000, forming a possible bullish rejection wick.
15-Min Chart:
• Bullish Divergence visible in RSI and MACD.
• RSI rebounded from sub-30 to 52.10, signaling strengthening momentum.
• MACD histogram has reduced in negativity, suggesting decreasing bearish pressure.
3-Min Chart:
• Clear short-term uptrend forming after a strong intraday drop.
• RSI 62.56 and MACD turning positive show bullish momentum building.
• Price just reclaimed a key intraday level (~38139) with follow-through.
⸻
Fundamental Bias:
Recent oversold market conditions, combined with potential short-term relief rally due to earnings optimism, Fed rate pause speculation, or geopolitical cooling, support a tactical long bias.
⸻
Trade Setup:
• Entry (Buy): 38,150
• Above the minor resistance turned support zone and confirmation of bullish momentum.
• Stop Loss (SL): 37,800
• Below the recent strong support zone from Daily and intraday.
• Take Profit (TP): 38,750
• Just below the next major resistance zone on the 15-min/1H chart.
US30 Note
AS ALWAYS, SL TO BE @ 1:1
Trade closed: target reached
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.