US 30 FALLThe analysis suggests a potential selling opportunity for US 30 (Dow Jones Industrial Average) on the daily and 4-hour timeframes.
On the daily timeframe, a selling entry zone is identified between 39,800 to 39,950 points. This range represents a level where significant selling interest has historically emerged, potentially acting as a resistance zone for the index. Traders often look for such areas to initiate short positions, anticipating a downward movement in price from these levels.
Additionally, on the 4-hour timeframe, a fresh selling zone is noted between 39,590 to 39,650 points. This zone represents a recent area where selling pressure has been observed, indicating potential renewed bearish momentum for US 30.
The trading strategy includes setting a target of 130 pips, representing the expected downside movement in US 30 from the identified selling zones. This target suggests the anticipated decrease in price from the entry zones to the desired profit level.
Furthermore, two target prices are set to manage the trade effectively. Setting multiple targets allows traders to lock in profits at different levels and adjust their positions accordingly as the trade progresses.
In summary, the analysis indicates a potential selling opportunity in US 30, with selling entry zones identified on both the daily and 4-hour timeframes. Traders may consider entering short positions with the expectation of a 130-pip downside movement, aiming to capitalize on the potential price decline from the identified selling zones.
