after price broke our pivot ring we did see a big move from us30(unfortunately price did not push as expected). this is bullish for us30! i think that price will continue to go up (+200 points) before we have a drop.
currently i do think that us30 is over extended (in the short term) but i do think that we will have a 200 post leg up before a 2k point drop.
we are about to test a major fib level (1.618) + a long term trend line! i do think that we will get rejected at this trend line since price has rejected this same trend line +3 times!
here are you buying/selling points and targets!
red path (buy)
a good buying point is at 33,242
your only target is at 33,997
yellow path (sell)
a good selling point is at 33,997
your first target/ second selling point is at 33,111
your second target/ third selling point is at 32,861
your third target/ forth selling point is at 32,548
your forth target/ fifth selling point is at 32,156
your fifth target/ sixth selling point is at 31,609
and your final target is at 30,940
after it hits all these targets i do expect price to head up to 36k! (i will make another post talking about the 36k target after we hit all of our sell targets). remember, 36k is our long term target! i do believe that 36k will be our top before we begin our 80% drop!
(TAKE TRADE AT YOUR OWN RISK)
currently i do think that us30 is over extended (in the short term) but i do think that we will have a 200 post leg up before a 2k point drop.
we are about to test a major fib level (1.618) + a long term trend line! i do think that we will get rejected at this trend line since price has rejected this same trend line +3 times!
here are you buying/selling points and targets!
red path (buy)
a good buying point is at 33,242
your only target is at 33,997
yellow path (sell)
a good selling point is at 33,997
your first target/ second selling point is at 33,111
your second target/ third selling point is at 32,861
your third target/ forth selling point is at 32,548
your forth target/ fifth selling point is at 32,156
your fifth target/ sixth selling point is at 31,609
and your final target is at 30,940
after it hits all these targets i do expect price to head up to 36k! (i will make another post talking about the 36k target after we hit all of our sell targets). remember, 36k is our long term target! i do believe that 36k will be our top before we begin our 80% drop!
(TAKE TRADE AT YOUR OWN RISK)