Market Analysis and Trade Plan
US30 has been in a downtrend, but we are identifying a potential reversal setup with a breakout above the descending trendline. Here’s the detailed trade plan:
Entry:
Look for a breakout above the descending trendline.
Confirmation of entry with a strong bullish candle closing above the resistance zone.
Stop Loss:
Place the stop loss just below the previous swing low, as indicated in the chart.
Take Profit:
The target is set at the next significant resistance level around 38,920, where the previous high is located.
US30 has been in a downtrend, but we are identifying a potential reversal setup with a breakout above the descending trendline. Here’s the detailed trade plan:
Entry:
Look for a breakout above the descending trendline.
Confirmation of entry with a strong bullish candle closing above the resistance zone.
Stop Loss:
Place the stop loss just below the previous swing low, as indicated in the chart.
Take Profit:
The target is set at the next significant resistance level around 38,920, where the previous high is located.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.