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US30 - PRE NY SESSION ANALYSIS - 05172022US30 - PRE NY SESSION ANALYSIS - 05172022 Price has been pushing back up so far this week. Overall from the macro perspective I believe we still are in a bearish market. However, price is breaking above previous structure highs on the lower TFs. With this in mind, I have my eye out to see what price does over the next hours/days. If price continues to push up and forms a floor of support where structure was previously resistance then I may be targeting short term buy opportunities to ride this push up which appears to be a pullback on the higher TFs. I will have my eye closely on this push up to also see if it begins to run out of gas near levels of supply/resistance and exhibit signs of exhaustion/reversal. If so, then I will be looking to get back into a sell order to continue with the overall larger bearish trend. Some significant US sales data news today @ 8:30am and Daddy J. Powell is speaking @ 2pm, other than that smooth sailing the rest of this week with US news. Happy trading and see you after NY session today!
OANDA:US30USDShort
by ryanweier
US30 - PRE NY SESSION ANALYSIS - 05132022US30 - PRE NY SESSION ANALYSIS - 05132022 As anticipated, price pushed back up during Asian and London session and is now hanging out around the 32000 level. I have entered a sell position @ approximately 31960 with a 100 point stop which is clearly above previous recent structure lower highs. There is also confluence in this area with the MA 66 acting as a static resistance, the 23.6 fib level, and a random support/resistance level which is also behaving as resistance at this time. I am anticipating for price to drop to retest this week's previous low of approximately 31200 which is my TP. I'll be moving my stops into profit as it starts heading in my direction. If I get stopped out I'll probably call it quits for the week unless I see price pullback to the 38.2 fib level and show signs of exhaustion/reversal to consider a re-entry. No major US news today which is good. Good luck today and see you after NY session this afternoon!
OANDA:US30USDShort
by ryanweier
1
US30 - PRE NY SESSION ANALYSIS - 05122022US30 - PRE NY SESSION ANALYSIS - 05122022 At the time of this post price is currently around 31600 and appears to be running out of gas. During Asian and London session price has continued to push down. US - PPI news at 8:30AM EST so we will see what effect this has. Currently I don't see any entry for my edge, there may be some short-term countertrend buy opportunities but I am not targeting those. I am going to wait for price to pull back up to previous levels of structure, aligning with support/resistance levels, supply/demand zones, and fib levels while price is exhibiting signs of exhaustion/reversal to get back in on another sell order to continue riding the downward wave. Have a great trading day and see you after NY session today!
OANDA:US30USDShort
by ryanweier
US30 - POST NY SESSION ANALYSIS - 05042022Well that was a doozy! As anticipated, news threw all technicals out the window and pushed price up over 1000 points in 2 hours at the time of this writing. With this new push up we will see where price goes during Asian and London session but it price forms a support at this new 34000 area then potentially we may be looking at a further push up to retest previous levels of support/resistance heading towards 35000. If not, price may run out of gas in this 34000 area and then look to continue the push down to approximately the 33000 or 32500 levels. Have a good night and see you before NY session tomorrow morning!
OANDA:US30USDShort
by ryanweier
US30 15M Support/Resistance Zones Showing Great Ranging Entries.Out of the 4 trades that I found doing live analysis on the 15Min. 3 were extremely successful wins (Green Vertical Lines) and 1 a small loss (Red Vertical Line). If you were to have taken each of these trades with 1 percent risk on your account, you would have seen a 22.78% gain from trading today alone. The first trade being successful also funds the next 6 trades with profit alone, instead of dipping into account balance. I say this because the first trade shown is a 1:6 RR winning trade. Just thought I'd share how well these Support and Resistance Zones work when ranging, especially for US30 I can't speak for other currencies or indexes though. Its also worth mentioning depending on entry strategies you have, this could be much less risky. One way I see achievement of a less risky entry is instead of waiting for price to hit your entry level (The Support and Resistance Zones) like shown in my screenshot, allowing price to actually push to your intended Entry or past your Intended Entry before you even set your trade and instead catch it on the Zone bounce upward or downward allowing the trade to confirm respect for these zones. You will be able to see this on a lower timeframe like the 1Min and secure a better entry with potential for a much smaller stop loss or realize it is going to the lower or higher support or resistance zone. This would have made the failed trade (Red Vertical Line Shown) much more unlikely as I wouldve known to wait until it reached the bottom of the S/R zone. Which I ended up trading anyway, however the loss was preventable. If you find this trading opinion or analysis useful like and follow, I'd like to start posting more. Thanks.
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by FX_Road_To_100k