US30 opportunity for profit

04.05.2018 / 02:20

Rating:

Long-term upward trend, medium-term bearish. The price is making lower tops. Shaped triangle figure. If the price breaks over the diagonal resistance that shapes the figure, we can see a strengthening of the upward movement and the end of the mid-term correction. The price again tested the diagonal support and the SMA 200 and made a fake breakthrough, then came back and closed above the level. This indicates that the bears have no power to continue the movement. Price action signal: Pin bar at diagonal support levels, SMA 200 and FiBo 61.8. Technical Indicator: CCI (50) - Failed to break the base level -100 as the oscillator reverses upward - a positive signal. In order to minimize the risk, we can wait for a 50% correction of previous bar prior to entering the position.

Alternative Scenario: If the price break below the diagonal support and hold below it, the triangle figure will be activated and we can see the start of a new downward trend.

SL: 23000

Read more:

RECCOMEND WAS THIS POST USEFUL FOR YOU?
If you think, we can improve that section,
please comment. Your oppinion is imortant for us.

WARNING: Any news, opinions, research, data or other information contained within this website is provided as general market commentary and does not constitute investment or trading advice. Varchev Finance Ltd. expressly disclaims any liability for any lost principal or profits which may arise directly or indirectly from the use of or reliance on such information. Varchev Finance Ltd. may provide information, quotes, references and links to or from other sites and blogs and other sources of economic and market information as an educational service to its clients and prospects and does not endorse the opinions or recommendations of the sites, blogs or other sources of information.

Varchev Finance

Varchev Finance Ltd is registered in the FCA (FINANCIAL CONDUCT AUTHORITY) with a passport in the United Kingdom: FCA, United Kingdom - registration number: 494 045, which allows provision of financial services in the United Kingdom.

Varchev Finance Ltd strictly comply with the statutes of the European directive MiFID (Markets in Financial Instruments). targeting increased efficiency, transparency and uniformity of financial instruments.
Varchev Finance Ltd is authorized and regulated by the Financial Supervision Commission - Sofia, Bulgaria: License number RG-03-02-05 / 15.03.2006

The information on this site is not intended for distribution or use by any person in any country or jurisdiction where such distribution or use would be contrary to local law or regulation.

Disclaimer:

CFDs are complex instruments and come with a high risk of losing money rapidly due to leverage. 63,41% of retail investor accounts lose money when trading CFDs with this provider. You should consider whether you understand how CFDs work, and whether you can afford to take the high risk of losing your money.

US30 opportunity for profit

London

Universal numbers