Very quick idea. Two counter trend lines and a double top are forming which is signalling sell. Taking out the impulsive move we saw on Friday we get back to our bottom trend line channel which lines up lovely with my plotted zone, fib levels and a good resistance level. Just my idea!
US30 is on a mad one at the moment. Id like to see a third tap of that 19000-18900 confirming to us as a nice s/r zone. at this zone i am looking to enter a long with extremely tight stops. There a lot of confluences that lead me to believe there is a quick long in place. We are looking to form a h/s on the 1hr time frame, the right shoulder if completed lines up...
We have a nice upwards channel with some big wicks pushing to the upside, as we have reached the top we can see a double top starting to form. Upon this double top forming we can see it has bounced straight off and closed below a separate trend line within our channel which to me is a sure sell signal. I Have structured my zones of interest of where i believe...