US30 After the break of the Bullish Trendline (in green dotted line) on the Hourly, watch for a coming retrace to retest the trendline, then back down again for a greater move to the downside - potentially to the S&R Zone below (that starts at 41,712).
*Side Note: Look at the two trendlines (in red and green dotted lines). They formed what looks like an Ascending Wedge to encourage moves to the downside.
US30 More false breakouts. That's four in a row now on the Hourly. After that Bearish Pressure Zone brought the market down, it shot right back up and into the channel created by the Swing High (at 42,204) and two Swing Lows (at 42,106 and 42,084).
Watch for a true breakout for true direction.
*Side Note: With the presence of these tall Spinning Tops, the Big Players know that newbies are waiting for a breakout from indecision, so they'll push the price high enough to trigger the buy orders placed by bullish traders, or just low enough to trigger the sell orders placed by bearish traders.
Once they have triggered these orders, they reverse the price. Trapped traders rush to close their positions, adding even more momentum to the reversal.
US30 Some levels "fo dat ass". Here yee Here yee got some levels that provided some nice insight for me this morning. i've been backtesting 9:30 open (highlighting the 30 minute block til 10)... been working out well. yesterday block is green... I highlighted todays block yellow. The green trendline below with the wick is part of the down trend line since February... This area (trend line zone) has been tested about 3 times within the last 7 days.
US30 After the break of the Bullish Trendline (in green dotted line) on the Hourly, watch for a coming retrace to retest the trendline, then back down again for a greater move to the downside - potentially to the S&R Zone below (that starts at 41,712).
