US30 - PRE NY SESSION ANALYSIS - 05232022
Price has pushed back up to the zone/previous level of structure in the 31400 - 31600 area.
It appears that it is retesting this previous structure before it continues with the overall bearish sentiment evident on the higher TFs.
I am looking for price to fully pull back into this zone, my sweet spot I am targeting is 31500 - 31650 with a 100 point stop which will put my SL outside recent structure highs.
However, I will only enter in this area if I see signs of exhaustion/reversal forming on the M5, M15, M30, and/or H1 TFs.
Let's see what happens but this can potentially be an easy 1:3 minimum RRR trade.
Have a great trading day and see you after NY session today!
Price has pushed back up to the zone/previous level of structure in the 31400 - 31600 area.
It appears that it is retesting this previous structure before it continues with the overall bearish sentiment evident on the higher TFs.
I am looking for price to fully pull back into this zone, my sweet spot I am targeting is 31500 - 31650 with a 100 point stop which will put my SL outside recent structure highs.
However, I will only enter in this area if I see signs of exhaustion/reversal forming on the M5, M15, M30, and/or H1 TFs.
Let's see what happens but this can potentially be an easy 1:3 minimum RRR trade.
Have a great trading day and see you after NY session today!