Short
US30: A Great Sell Setup From the Bearish Flag Channel
-INTRODUCTION-
US30 has recently reached a new low at the $31000 level. This makes the downtrend still very valid and we will look to enter sell positions after a retracement. In the 15-minute chart, we can see a sharp bearish impulse movement, followed by a slow retracement. These are good bearish structures indicating that bears are still in control.
-TRADING PLAN-
The price is moving nicely within the bearish flag channel. Currently, the price is testing the resistance level of $31600. If the price breaks above, then we expect the price to retest the next resistance level of $31900. If failed, then the price should break down the bearish flag channel, falling to retest the previous low.
US session today should provide a clear path.
Check out our recent US500 intraday trading idea below :)
US30 has recently reached a new low at the $31000 level. This makes the downtrend still very valid and we will look to enter sell positions after a retracement. In the 15-minute chart, we can see a sharp bearish impulse movement, followed by a slow retracement. These are good bearish structures indicating that bears are still in control.
-TRADING PLAN-
The price is moving nicely within the bearish flag channel. Currently, the price is testing the resistance level of $31600. If the price breaks above, then we expect the price to retest the next resistance level of $31900. If failed, then the price should break down the bearish flag channel, falling to retest the previous low.
US session today should provide a clear path.
Check out our recent US500 intraday trading idea below :)
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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.
Related publications
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.