US30 Descending Wedge

I don't normally trade the US30, but I would like to start exploring this indices and the large moves it tends to make.

I have marked out my major levels as my monthly support and resistance.

Currently we are approaching resistance of this downward sloping trend line, but if we break through there could be some room to run higher based on the technicals of this pattern.

I would be open to the idea of a pullback to the 200ma before pushing through. Alternatively a push through, and confirmation of breakout before moving higher. That could be a good long trade.

Major levels of resistance above us including the CC golden pocket, and several monthly levels. If this move up, I would consider a good TP at 34,400 - 34,600.

I would then expect a pullback, before potentially breaking through the huge wall above which can bring us higher and execute the wedge breakout.

What are your thoughts?

코멘트:

On the short term, my idea for a retrace before entry:

코멘트:

Small long at the monthly level

액티브 트레이드

코멘트:

코멘트:

You would have one last chance to long this bad boy, congrats if you did

거래청산: 타겟 닿음:

200 PIPS just like that

코멘트:

Looking for a new entry that might give me some higher probabilities. Ill be watching the 200MA at 33,850 region.

Watch out for this bearish pattern, RSI divergence.

코멘트:

potential trade

코멘트:

if you avoid getting stopped out this may likely reach the target

코멘트:

that would be tp

액티브 트레이드:

Order placed at exact target $33,850 and what a bounce

코멘트:

Nice take profit

매매 수동청산:

There is some liquidity above, which we may even see a move too. But I would only be willing to let a portion of the trade ride at this point ie. 10% of the original trade. You might get a pop up further to approx $35,200, but there is potential the market could just reverse from here too.

코멘트:

Exactly as predicted