Long

US30 Buy Idea

We are currently on an uptrend on the larger timeframes. (W) US30 has formed higher highs and higher lows on the daily timeframe. (D) US30 retraced to the 61.8 and made it's way to the first take profit of -27 before retracing into the 50 zone. On the H1 market has broken structure and formed higher highs and lows indicating a buy. The market just recently hit a 61.8 zone and demand zone and formed a double top, so it's safe to expect some retracement & consolidation around this price before price breaks into a buy towards the past high at the -27 zone. On the M5, we are going to wait to see how far market retraces before it shows exhaustion and then we are going to create an entry for when it retouches that point and heads towards the buy.

growthbank

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