Updated idea for the last idea of US 30 (importat!) 27.12.24Hi, How are you doing? Merry Christmas ))
** The used time frame is the daily and I would suggest to open the chart and zoom out, so all will be clearer than how it looks now.
** As you see, the index failed in making another 5th HL, as it went down than the 4HL already and intends to do a lower low currently.
** Have a look now on the blue curved line which points to high tops with high resistance points and they are both at my Fib 50% level! which adds another layer of resistance.
** Also have a look on the previous daily candle which ended up in green, but with an unfilled wick which I assume that it will be filled today when the index moves to the downside.
** The index continued in pushing up the price at the last few days, as a normal reaction after the past 2 bearish weeks. But NO WAY that it could go and close the day candle above the lower yellow line of the rising channel. And by looking at that yellow line, you would easily see that it acted as an uptrend line (as a normal thing of the lower line of the rising channel anyway) and then was broken then the pull back pushed the price up to the current level. but now we have the Fib level, plus the curved blue line tops which are all including the yellow line acting as extra huge and so powerful resistance zones to avoid the index from going more upwards.
** By looking at the daily uptrend line in purple which was not broken since 23.10.2023 that will have to be visited and more likely will be the point which the index is heading down to!
** Also when the index is going down starting from today, hopefully as planned, will mean too the breaking of the uptrend blue line and will send the index to its bottom and that will support the more my idea!
** By going further to my TP will mean a pullback to the red downtrend line which was finally broken by the daily candle of 23.12.2024 then it will act as a support zone to the index for sure!
** The red flag is the TP price where the purple line and the red line will be touched there.
**********NOOOOOTE** It is important to monitor when the index reaches to the purple line on the daily frame and immediately close your short trades once it touches that uptrend purple line! whatever the price could be! as I expect an immediate bullish retrace once it touches it!
Note:
My ideas are exclusive to myself only and is not regarded as an advice for traders or investors and are not more than personal thoughts which I just wanted to share with you all and I do hope they could help.
I am not selling any signals and I do not take money favour any trades recommendations. They are free of charge all lifelong but I keep the copy rights of them though to not be copied or shared or sold.