US30 - Catch The Next Wave!

US30 is currently in an uptrend, with price action respecting a well-defined ascending channel. We anticipate another bounce from channel support.

In Wave 2, price was rejected at the 38.2% Fibonacci retracement level, and we expect a similar reaction for Wave 4.

Our strategy is to wait for price to enter the buy zone, between the 38.2% and 50% Fibonacci retracement levels, and look for bullish reversal signals before entering a position.

Potential Bullish Reversal Signals:
Trendline break
Break of structure (BOS)
Other confirmation patterns

Trade Plan:
- Monitor price movement into the buy zone, aligning with channel support.
- Enter long positions upon confirmation of bullish price action, placing stop-loss below the established low formed after bullish confirmation.
Target levels: 45,000 and 48,500, with the remainder held for a potential extended swing trade.

Goodluck and as always, trade safe!