Mastering the trading on US 30! it is more than just an idea!Hi, I hope you all are doing well
* The chart time frame on chart is 4H but all time frames were used on my analysis!
* We hit together in this bearish wave ,which I spoke about before it happens, three TPs (have a look on my last two ideas which I attached their links down for you to see) and now it is more complex than before and we need to mind something I will speak about it now.
* The overall big wave for US 30 is bullish and what we see in this bearish wave is just a big correction wave because the index is searching currently for its HL to settle on and return back to do another ATH and so on. That is the easy talk because the tough question now is what the index bias now and where could be that HL?!
* To answer this question you need to see that chart again now quickly and read what will come below and always keep looking step by step. I do want only to tell you targets! I want you to understand too.
* The index retraces from its ATH by the top yellow line, correct and lost 44735 already and I spoke a lot about the importance of that price as all that bearish wave happened because of that!
* Then index kept breaking supports levels on the way down and did not care except to the target which the whalers want to send the index too to gain the power again. All the candles at the free fall were on the left side of the purple downtrend line and could not break it so far because if it will be broken, will be the end of the bearish wave but obviously the index till now did not reach to its target!
* My TP2 on my last idea was at 43800 and I chose that price carefully and wisely and not further down as I expect a bullish retrace to happen from here at around 43800 or 43780 but to where it could go up to?!
* Do you see now the yellow square which I wrote next to it not a safe zone? because the top and the bottom lines of that square are acting as support and resistance zone from 43780 till 43970 this area is so beloved by the market whalers to give a feeling it will go down or up then it could work out with only by luck! because the correct decision to take is to refrain or avoid to set your entry in this area at all and to be patient UNTILL the price break through above or down than that yellow square!
* By going down, will send the index directly to 43435 which I said many times before that is the second most important price after 44735! and I said both those levels are game changer by all the means! losing them means further down moves like what happened with 44735 and settling and bounce up from will give the index the needed buy power back! 43435 is at the blue flag on the chart! where will be the TP of that idea ONLY if the index will continue to go down and close under by minimum 1h candle's body and not with a wick as it could retrace back before the closure of the candle then you would lose the trade!
* Now have a look on the three blue curved lines and see now where they are heading to?!
the first is at the 2HH which acts now as a strong support for index, the second and the third were the points where great bullish momentum started from. Now your your eyes started to see what I see ))
* Now then, have a look too on the red line I drew for you to understand that this line is acting as support or resistance, again it is not by luck that it is located at 43435 which is at the TP level!
* Then now have a look please on the bottom yellow line of the big rising channel where there is a very big chance still that index could go and touch that line too, but I am not sure yet about it. That is why the HL point will be when the index reaches the red pr the below yellow line ))
* Before that last but it is EXTREME important! For US 30 to continue the big overall bullish wave, the 4 HL CAN NOT BE at less level that 3HH but higher or at same level is also acceptable!
* Last thing! Guess what also, Do you think still that my Fib level of 38.20% will meet the index in the same point of when the index reaching to the yellow line is luck! nothing is by luck, that is the trading guys! and the beauty of it!!
* I did not put a second TP because I do not want to confuse you but you already know where that will be now ;)
I sat the idea on neutral not short or long! do not forget the yellow square, above it so will be bullish but down from it would be bearish and if it is meant to be bearish then you know the targets!
I think now your minds are telling you 100% bearish then because the puzzle is solved now)) and all make sense! Wait, nothing in the trading is called 100% but say to yourselves, that there is a condition if it happen so I will know what I will do and I will be patient for it because nothing is called 100% and no one is perfect!
Note!! My ideas are exclusive to myself only and is not regarded as an advice for traders or investors and are not more than personal thoughts which I just wanted to share with you all and I do hope they could help.
I am not selling any signals and I do not take money favour any trades recommendations. They are free of charge all lifelong but I keep the copy rights of them though to not be copied or shared or sold.
