US30 shorts

20 ביוני 2024

Hello Traders;
I believe that US30 is due for a very huge bearish move

Here's why
Monthly;

• Price broke all time highs and never retested the previous region.
  
• May's candlestick closure is very weak and left a long wick to the upside. The probability of the wick being filled is very low.
  

Weekly;

• There is a 3 pin pattern that never closed below the pattern.
  
• If price ever breaks 38,000 then the next target is 37,500.
  
• Two weeks ago price formed a doji candlestick formation which shows me there are not enough orders to go to the upside.
  
• The previous week's candlestick has its body showing downside momentum
  
• I believe that this week price went up to collect orders before we see inevitable downside movement
  

Daily;

• Price is at a major selling region at 38,875 and rejected it with a 3 pin pattern.
  
• The next notable daily region to the downside is 38,550
  

4 hour;

• Price has broken below 38,830 which is a 4 hour region and has retested the region.
  
• The next notable region is 38,750.
  
• Waiting for a sell setup