Short
US30 Daily TF Analysis-What Do You Think?
What do you all think? I think price will head bearish after looking at the higher time frame. It will depend on how this next daily candle will close.
1.Notice how price respects the 200EMA
2.When price is above the 200EMA the overall trend is bullish
3.If price begins to close below the 200EMA and breaks market structure to form new lower lows, the trend will be bearish
4.If price finds support in this range, price could continue bullish, but if it rejects, we could go bearish to retest the lows
1.Notice how price respects the 200EMA
2.When price is above the 200EMA the overall trend is bullish
3.If price begins to close below the 200EMA and breaks market structure to form new lower lows, the trend will be bearish
4.If price finds support in this range, price could continue bullish, but if it rejects, we could go bearish to retest the lows
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.