שורט
US30: Downtrend to Continue
מעודכן
I think the market will continue its downtrend, once price action reaches this zone. I anticipate a lot of choppiness and consolidation, so be patient with the entries and wise with the risk. If you get stopped out, again, be patient and wait for another opportunity at strong resistance.
I identified 3 different structures here and used them to plot levels on the chart.
Structure 1 (L2H) is the up structure that gave us the 1.272 & 1.618 extensions, giving us some signs that the market may be about to pull back and rally for a bit.
Structure 2 (H2L) is the larger structure that gives us three retracement levels. The .5, .618, and the .786-.886 zone. We should pay attention to these levels of interest when price arrives.
Structure 3 (H2L) is the smaller down structure that gives us a second set of levels to consider, primarily the .786 & .886 retracement. This is the structure that price is currently trading in and the one we'll use to determine how the market is trending as it approaches significant levels.
The Sell Zone I have marked is the confluence between the .618 of S2, and the .786-.886 of S3. This area also coincides with a potential testing of the 200MA, Several resistance zones that the market may retest, a 1.0 price projection, and the .5 retracement of S2. This is a large area to consider, so as always, be responsible with your risk. If the market doesn't reach our levels and sells off quickly then no worries, there will be other trades. No FOMO!
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Levels of Development LLC is providing this material for this site and any other related sources (including newsletters, blog posts, videos, social media, and other communications) for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options, or other financial instrument transactions are for illustrative purposes only and may not represent specific trades or transactions that we have conducted. We may use examples that are different or the opposite of transactions we have conducted or positions we hold.
All investing and trading in the securities market involve risk. Any decision to place trades in the financial markets, including trading in stock or options or other financial instruments, is a personal decision that should only be made after thorough research, including a personal risk and financial assessment, and the engagement of professional assistance to the extent you believe necessary.
I identified 3 different structures here and used them to plot levels on the chart.
Structure 1 (L2H) is the up structure that gave us the 1.272 & 1.618 extensions, giving us some signs that the market may be about to pull back and rally for a bit.
Structure 2 (H2L) is the larger structure that gives us three retracement levels. The .5, .618, and the .786-.886 zone. We should pay attention to these levels of interest when price arrives.
Structure 3 (H2L) is the smaller down structure that gives us a second set of levels to consider, primarily the .786 & .886 retracement. This is the structure that price is currently trading in and the one we'll use to determine how the market is trending as it approaches significant levels.
The Sell Zone I have marked is the confluence between the .618 of S2, and the .786-.886 of S3. This area also coincides with a potential testing of the 200MA, Several resistance zones that the market may retest, a 1.0 price projection, and the .5 retracement of S2. This is a large area to consider, so as always, be responsible with your risk. If the market doesn't reach our levels and sells off quickly then no worries, there will be other trades. No FOMO!
---
Levels of Development LLC is providing this material for this site and any other related sources (including newsletters, blog posts, videos, social media, and other communications) for educational purposes only. We are not providing legal, accounting, or financial advisory services, and this is not a solicitation or recommendation to buy or sell any stocks, options, or other financial instruments or investments. Examples that address specific assets, stocks, options, or other financial instrument transactions are for illustrative purposes only and may not represent specific trades or transactions that we have conducted. We may use examples that are different or the opposite of transactions we have conducted or positions we hold.
All investing and trading in the securities market involve risk. Any decision to place trades in the financial markets, including trading in stock or options or other financial instruments, is a personal decision that should only be made after thorough research, including a personal risk and financial assessment, and the engagement of professional assistance to the extent you believe necessary.
עסקה סגורה: היעד הושג
Right on the money!
כתב ויתור
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