Buy Position on US30 (4H Chart)
Upon analyzing the 4-hour chart, we are seeing significant bullish momentum across the US30 index, signaling a strong continuation of the overall uptrend that has been dominant throughout the week. The current setup presents a high-probability buying opportunity as we catch an entry from a pullback within this bullish trend.
This pullback offers a favorable entry point, aligning with the momentum indicators that suggest further upside potential. The target for this position is the US30 all-time high, with the expectation that the ongoing bullish pressure will drive the price to retest these levels.
With market conditions and momentum in our favor, this trade allows us to capitalize on the prevailing trend while minimizing downside risk by entering on the pullback.
We will set the stop loss 120 pips from entry to manage risk, ensuring that our downside exposure is controlled while allowing the trade room to develop.