US30 OUTLOOK DONT CHASE TRADES,WAIT FOR TRADES

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Market Structure:
Downtrend: The overall structure shows lower highs and lower lows, indicating a bearish market.

Recent Price Action: Price has recently made a sharp drop and is currently bouncing off a possible support level.

Key Levels:
Resistance: ~42,400 (previous lower high)

Support: ~41,200 (recent low where price bounced)

Potential Setups:
Bearish Continuation: If price reaches the 42,000–42,400 zone and rejects with strong bearish candlestick patterns, it could indicate another leg down.

Bullish Reversal: If price forms a higher low above 41,200 and breaks above 42,000 with strong momentum, a reversal could be in play.

Range Play: If price consolidates between 41,200 and 42,000, possible scalping opportunities within the range.

Confirmation:
Look for candlestick confirmations (e.g., bearish engulfing for a sell, bullish engulfing for a buy).

Use volume analysis to confirm breakout strength.

Monitor economic news for potential volatility.

Penafian

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