Us30 Bears win, Bulls win, Pigs get slaughtered
Hey Guys What's Up
My analysis always understands that the market has opportunities for the bulls and bears to eat. You just need to study and know where you are in the market...secure your profits and don't be greedy.
The body of the 4hr candle is currently sitting at support level of a recently created 4 hr trend line. Price is also currently approaching the magnet area. If you are not in a buy its best to wait to see if price pushes above through the magnet (consolidation) area ~29375. If price pushes above this area (i.e, two bullish candles and the second one closing above 29375 - (im executing from the 5 min) I will go long...however executing from the 15 mins works out well as well. In the 15 min price is sitting on the bottom of the 15 min channel.
If price pushes above the 29375, I am going long with three TP levels, tp3 being 29700 - this would complete
tp1 - 29450
tp2 - 29550
tp3 - 29700
If price pulls up this would potentially be the forth correction leg. 29700 is also 61.8% on the fib- which means price may push down hard reversal from there. Back to minor structure magnet. However on many levels price is at support, in the ABCDE pattern price is coming right to the fib level.
If price breaks below the magnet 29265 I am looking to catch 50 units down to minor structure magnet and then reassess after that. Around 29200-29190
Wait for price action, wait for price to open and close above magnet areas.
My analysis always understands that the market has opportunities for the bulls and bears to eat. You just need to study and know where you are in the market...secure your profits and don't be greedy.
The body of the 4hr candle is currently sitting at support level of a recently created 4 hr trend line. Price is also currently approaching the magnet area. If you are not in a buy its best to wait to see if price pushes above through the magnet (consolidation) area ~29375. If price pushes above this area (i.e, two bullish candles and the second one closing above 29375 - (im executing from the 5 min) I will go long...however executing from the 15 mins works out well as well. In the 15 min price is sitting on the bottom of the 15 min channel.
If price pushes above the 29375, I am going long with three TP levels, tp3 being 29700 - this would complete
tp1 - 29450
tp2 - 29550
tp3 - 29700
If price pulls up this would potentially be the forth correction leg. 29700 is also 61.8% on the fib- which means price may push down hard reversal from there. Back to minor structure magnet. However on many levels price is at support, in the ABCDE pattern price is coming right to the fib level.
If price breaks below the magnet 29265 I am looking to catch 50 units down to minor structure magnet and then reassess after that. Around 29200-29190
Wait for price action, wait for price to open and close above magnet areas.