US30 looks to be completing a wave 4 pullback in the form of an ABC correction. We are looking for a wave 5 to begin and push down toward the 16000-15000 level. A few things must happen for this set up to remain valid.
1. Wave 4 cannot pull back higher than where wave 1 ended (around 24700). This would invalidate the Elliot wave structure.
2. We need a strong bearish push in order to confirm the end of wave 4 and beginning of wave 5. This is where we can jump on a smaller timeframe for our entry.
3. Price would need to break the yearly low (currently at 18150) in order to fully complete wave 5 for a final target of 15500. Price could hit the yearly low and bounce up to attempt a double bottom, therefore most profits should be taken at this level.
TP 1: 21000
TP 2: 18500 *close most of positions
TP 3: 15500
Keep in mind US30 is highly volatile. Use proper risk management. This set up has a great risk to reward.
I am not a financial advisor. This is not financial advice. This is for educational purposes only.
1. Wave 4 cannot pull back higher than where wave 1 ended (around 24700). This would invalidate the Elliot wave structure.
2. We need a strong bearish push in order to confirm the end of wave 4 and beginning of wave 5. This is where we can jump on a smaller timeframe for our entry.
3. Price would need to break the yearly low (currently at 18150) in order to fully complete wave 5 for a final target of 15500. Price could hit the yearly low and bounce up to attempt a double bottom, therefore most profits should be taken at this level.
TP 1: 21000
TP 2: 18500 *close most of positions
TP 3: 15500
Keep in mind US30 is highly volatile. Use proper risk management. This set up has a great risk to reward.
I am not a financial advisor. This is not financial advice. This is for educational purposes only.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.
면책사항
해당 정보와 게시물은 금융, 투자, 트레이딩 또는 기타 유형의 조언이나 권장 사항으로 간주되지 않으며, 트레이딩뷰에서 제공하거나 보증하는 것이 아닙니다. 자세한 내용은 이용 약관을 참조하세요.