US30 Party

Going down. Below 30 000 ... below 29 000 ... below 28 000 ...
Dow Jones, monthly chart

Attached Image (click to enlarge)

M15

Tonight's FOMC should move it up to the 31824 area

TF 5min

So this is my 3rd post in forexfactory and I think I know how to do stuff better now.

I also like this trading instrument specifically because of its high level of volatility. This thing can go up and down hundreds of points a day and it's a normal day.

On the monthly outset, I can only identify 3 boxes that are in close proximity with where the price currently is. Of course, there are others but I didn't mark it because for now it's still irrelevant. So the premise of the price is it's still in the bullish mode after the last big monthly candle which is last month. That candle completely engulfed the previous bearish candle which is also big but now the price is hitting a wall which is the supply zone. As the zone is pretty huge so it might take some time to go over it and of course upon failure, the price will inevitably go down to the previous demand zone. On the daily time frame though, the price seems to show some difficulty to go up which is pretty evident in how the last few daily candles were formed. I mean, 5 dojis in a row is definitely telling you something, right? That said, the second last candle is a bullish pinbar so there is a chance that the price will attempt to go up this coming trading week. There is also a supply zone on the daily time frame but it's very small compared to the one that is in the monthly time frame so it's pretty easy to break this zone to the upside. Failure to go up will cause the price to come down to the demand zone again and then it might go up to retest the supply zone later.

Bulls will be eyeing 35k, but I don't put much stock in round-numbers myself, so having broken the high of 2022.08.16 I think it's free to decline. I'll be waiting for some confirmation first though.

Buy us30 and take profit at 39166

I am buying US30 because the trendline broke from the 1-hour chart and had a lower low from today and it's making higher high. Higher timeframes indicates further upside movement by market sentiment.

How are you supposed to trade this thing?

US30 is selling guys !! According to my analysis, it broke a trendline from the daily chart and I see it pushing downwards to the next untested support level near another trendline according to the screenshot on my TradingView chart.

My analysis on US30 using the breakout edge strategy down below.

looking at something similar