Auf geht's
Austin_Palmer

DOW JONES 30 │ US30 │ WEEKLY OUTLOOK

Short
US Wall St 30 (OANDA:US30USD)  
Austin_Palmer Aktualisiert   
OANDA:US30USD   US Wall St 30
Trend Analysis
3
0
trendanalysis

Daily-timeframe
Much like the four-hour timeframe, this timeframe is bearish and tapped into a strong demand. It may reach higher into the supply zone above current price. However do not be fooled into buying, the wick is left behind is too enticing for stop/sell orders the market would definitely like to reach below that area and we have an untested area of support as well as an unmitigated fvg just below it.
snapshot


Four-hour timeframe
With a clear downtrend in place, price tapped into a demand zone and reacted by driving price up 870+ pips just reaching above structure highs for liquidity and closing below it.
snapshot


Fifteen-minute
We took liquidity and changed character but this is not near enough to short, we have to wait for a break of fifteen-minute structure higher lows to consider going short
snapshot


Final Thoughts
The stock market has been overextended and a correction is only right. Do not buy until you see that huge area of support tested and it holds.
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