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US30 - POST NY SESSION ANALYSIS - 05242022US30 - POST NY SESSION ANALYSIS - 05242022 An erratic day today. Price slightly pushed up after my last post. Stopped me out at approximately 31767. I then got back in to another sell order around 31725 around NY open. Shortly thereafter price dropped about 300 points, I was trailing my stops so I locked in 200 points at approximately 31500 before price came back up and stopped me out. Since then in late NY session price has now pushed up to around the 31950 level. I have entered a sell position around this level, 31950 - 31990 My stop is above this recent structure that has formed, 100 points out at 32050. If price pushes up to my SL level then that will indicate that price is pushing up past these structure highs to form new highs and higher lows. If the bears come back into play here I anticipate price will drop down to atleast the 31400 level tested earlier today if not further down to 31000. I will be trailing my stops as always and see where this goes. I'll see you all pre NY session tomorrow! Have a great night!
OANDA:US30USDShort
by ryanweier
US30 - PRE NY SESSION ANALYSIS - 05242022US30 - PRE NY SESSION ANALYSIS - 05242022 After a nice push up yesterday, price is hanging out around the 31600 - 31700 level. It looks like price may be forming a higher lower, turning previous resistance into support. However, the overall bias is still definitely bearish and I've entered a sell position around 31660 as the previous H1 candle appeared to be exhausted while attempting to form this new higher low. If I'm stopped out at 31760 then I will be looking to see if price pushes up to the previous level of structure around 31900 in confluence with the 61.8 fib level and supply zone in this same area. If this occurs then I will be looking to get in once I see signs of exhaustion/reversal with a 100 point stop around 32000. Hopefully it moves in my direction and I'll begin trailing my stop at around +125 points if it gets to that point. I'll do my best to post again post market today however I'm still dealing with my Abuela in the hospital so I may have to push until pre-market tomorrow. Have a great trading day! Let's get this bag :)
OANDA:US30USDShort
by ryanweier
2
US30 - PRE NY SESSION ANALYSIS - 05232022US30 - PRE NY SESSION ANALYSIS - 05232022 Price has pushed back up to the zone/previous level of structure in the 31400 - 31600 area. It appears that it is retesting this previous structure before it continues with the overall bearish sentiment evident on the higher TFs. I am looking for price to fully pull back into this zone, my sweet spot I am targeting is 31500 - 31650 with a 100 point stop which will put my SL outside recent structure highs. However, I will only enter in this area if I see signs of exhaustion/reversal forming on the M5, M15, M30, and/or H1 TFs. Let's see what happens but this can potentially be an easy 1:3 minimum RRR trade. Have a great trading day and see you after NY session today!
OANDA:US30USDShort
by ryanweier
US30 Weekly Outlook - Where are we headed?! - 05232022US30 Weekly Outlook - Where are we headed?! - 05232022 Last week was absolutely crazy for US30! There was a HUGE drop on Thursday 05192022 with a lot of volatility throughout the week. The sentiment on US30 is still definitely Bearish in my opinion. On the monthly we are seeing a huge bearish candle with 9 days left. We're also pushing down to the 38.2 fib level on the monthly timeframe beginning from the bottom of the Covid drop in March 2020 and the subsequent bull run. On the weekly we are seeing this reinforced by higher highs and higher lows forming while price is breaking thru previous levels of support. Most recently this past Friday 05202022 price broke past a Weekly level of support/resistance at 30958. It then pushed back up late Friday session however it is very likely that this level will get retested again in the near future. On the daily, H4, and H1 timeframes we are seeing further confirmation of this with actually very clean structure forming lower highs and lower lows on these TFs. I have adjusted my fib down to this new low of approximately 30650 which was hit on Friday. I anticipate price will push back up the previous structure highs formed in confluence with a 38.2 fib level and H4 supply/demand zone in this same area. If this occurs and price exhibits signs of exhaustion/reversal then I will be looking to get into another sell position, targeting recent lows. 100 point stop above structure, 1:2 RRR minimum, begin trailing stop at +150 points leaving a 100 point buffer. I'll see you tomorrow morning pre NY session. Enjoy the rest of your Sunday!
OANDA:US30USDShort
by ryanweier
2
US30 - POST NY SESSION ANALYSIS - 05172022US30 - POST NY SESSION ANALYSIS - 05172022 Price has just been hanging around between 32200 and 32700 today There was a sell opportunity at approximately 6AM EST however I did not enter as I did not think price was close to a reversal zone which would make it a high probability trade. Could have bagged 300 points 1:3 RRR potentially but oh well I'm waiting for the next opportunity. No more major news for the week as far as the US goes. Daddy J. Powell made some comments which sent the market up a few hundred points but I think this may be short lived as price pushes back up to previous levels of resistance near this 32800 - 33000 levels. I will keep an eye out to see what happens during Asian and London sessions but overall on the larger TFs definitely bearish momentum is still intact. Short term buy opportunities may present themselves, if so I will enter at an exhaustion/reversal area with SL outside of structure. Have a good night!
OANDA:US30USD
by ryanweier
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