### US30 SHORT
I'm currently analyzing the US30 15-minute chart and considering a short position. The Elliott Wave analysis shows that we have completed wave (5), and the price is now potentially retracing in wave (a). The target for this move is the 1 extension level, which lies around 39110.84.
In this setup, I will be monitoring the movement of wave (b) and then entering the short position as wave (c) begins to develop. My entry point will be confirmed once the price action indicates the start of wave (c).
The key levels to watch during this retracement are:
- The 1 extension level at 39110.84, which serves as the initial target for this move.
For risk management, I will set a stop loss above the peak of wave (b) to ensure that any unexpected upward movement does not result in significant losses. By closely watching the price action and these key levels, I will adjust my strategy as needed based on market conditions.
I'm currently analyzing the US30 15-minute chart and considering a short position. The Elliott Wave analysis shows that we have completed wave (5), and the price is now potentially retracing in wave (a). The target for this move is the 1 extension level, which lies around 39110.84.
In this setup, I will be monitoring the movement of wave (b) and then entering the short position as wave (c) begins to develop. My entry point will be confirmed once the price action indicates the start of wave (c).
The key levels to watch during this retracement are:
- The 1 extension level at 39110.84, which serves as the initial target for this move.
For risk management, I will set a stop loss above the peak of wave (b) to ensure that any unexpected upward movement does not result in significant losses. By closely watching the price action and these key levels, I will adjust my strategy as needed based on market conditions.
Trade closed manually
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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.