Market

US30 – Bank Holiday market open trade – recap for CURRENCYCOM:US30 by LupaCapital

Hello Traders and Analysts,

Breakdown:

1. Note

2. Contents

3. Research breakdown

4. Education recap

5. Information on Lupa.

A Note before reading – this is a forecast analysis – based upon our trading strategy. This is tagged Long, due to purchasing further increments upon imbalances.

Please do not take this as face value and conduct the relevant investment strategy to successfully trade the probabilities.

Master Key for zones

  • Orange = Daily
  • Grey = 1hour
  • Purple = Profit zones

Took a day trade, here is why:
below is the flag pattern in which price will provide in terms of the structure in play – using the 1 hour time frame.

1 Hour Time Frame
Reasoning;

  • Bullish flag formation on the 1 hour chart.
  • Within the structure is a correctional change of hands.
  • This is the key are to wait for purchasing upon the low of the correctional move. This is now a technical counter move -if you as the trader sell.
  • Structure applying looking left shows three strong bullish candles, now price will not exactly copy this, but the structure has indicated to complete the pattern, price will look to emulate this move again.

30minute time frame
From the low of the correctional structure, looking left there is a consolidation zone which shows a clear view of what price is indicating to do.
The low of the structure to the lower high formation, price is now gearing up as* review the eclipse where the candle sticks are showing a shorter candle body.

*

5 minute chart

  • Trade was overall long, due to market open, despite US and Canadian bank holiday.
  • Break of the structure, retest and then confirmation engulfing candles pushed.
  • The overall daily imbalance as yet to be tested* See below

Daily chart representation
Imbalance trading range zone of the current market.
here is the overview of where price has potential to retest.

Do you enjoy the setups?
Professional analyst with 5+ years experience in the capital markets
Focus on technical output not fundamentals
Position and swing trades
Provide updates where necessary – with new updated ideas tracking the progress.

If you like the idea, please leave a like or comment.

To all the followers, thank you for your continued support.

Thanks,

LVPA MMXXI

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