US30 SIGNAL (SELL after rejection on monthly trendline) for CURRENCYCOM:US30 by MT-Team — TradingView

ACTION PLAN: 1.) Wait for price to show a break above previous high, then consolidate between monthly bearish flag trend line and show at least one 4h long wick rejection = enter a sell

2.)As soon as market hits a 1:1 risk reward = move stop-loss to breakeven as we might see a consolidation and then a huge move lower (capital preservation is key)

MAGIC IF: 1.)If market does not show rejection for a short position, look for a bearish engulfing candle on a higher time frame (30min, 1h, 4h) and then enter

2.)If market does not consolidate (in anticipation for the next big move) and then push lower, expect a large bullish movement upwards and then a strong exhaustion and retracement

Reasons/ Confluences:

.Clear strong uptrend exhaustion = bearish flag on the Monthly timeframe

.Price has shown strong bullish move therefore the next must be a retracement or consolidation (because the market always moves in HH, LL and LL LH)

.Price is hitting strong Monthly and 4h resistance area

TIPS:

.Stocks are known for whiplash and false breakouts – therefore only take a trade when clear signs indicate an opportunity (in this case a break and retest and possible long wick rejection)

.us30 is known for its volatility , therefore take caution with this pair = do not overleverage/ risk what you cant afford to loose

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