US30 Analysis 1-28-22
Price is currently in a 660-point RANGE that is too difficult to find a good entry. Looks like a level of resistance is beginning to form at 34100, but we won’t know for sure until a bearish candle has printed.
Price has currently been bullish leading up to the market open, but I believe this is a potential liquidity grab. News came out regarding PCE and CPI, so this caused a rally in price. I am in favor of a bearish continuation to the downside.
If price breaks 33785 this is an aggressive opportunity to take sells until 33475 which is a wick fill to the left. A conservative entry for sells would be a break of structure at 33700 with a TP at 33475.
If the bullish momentum continues, I will not look for buying opportunities unless price breaks and closes above 34430 my target would be 34540.
Key: Wait for market open volume and for candles to close before determining your entry. Also, it is Friday and the end of the month for trading so be aware of the market pullbacks and fake outs. DON’T overleverage (Not Financial advice)
Price has currently been bullish leading up to the market open, but I believe this is a potential liquidity grab. News came out regarding PCE and CPI, so this caused a rally in price. I am in favor of a bearish continuation to the downside.
If price breaks 33785 this is an aggressive opportunity to take sells until 33475 which is a wick fill to the left. A conservative entry for sells would be a break of structure at 33700 with a TP at 33475.
If the bullish momentum continues, I will not look for buying opportunities unless price breaks and closes above 34430 my target would be 34540.
Key: Wait for market open volume and for candles to close before determining your entry. Also, it is Friday and the end of the month for trading so be aware of the market pullbacks and fake outs. DON’T overleverage (Not Financial advice)
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