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on DAILY: US100 is sitting around a strong round number 13000 in blue and the upper orange trendline so we will be looking for sell setups on lower timeframes.
on H4: US100 is forming a channel in red so we will be waiting for a third swing to form around it to consider it our trigger swing.
Trigger: Waiting for a momentum candle close below the gray area to sell.
and of course, as price approaches our lower orange trendline from Daily, we will be looking for buy setups
Until the sell is activated, this one would be overall bullish and can still trade higher.
Good luck!
on DAILY: US100 is sitting around a strong round number 13000 in blue and the upper orange trendline so we will be looking for sell setups on lower timeframes.
on H4: US100 is forming a channel in red so we will be waiting for a third swing to form around it to consider it our trigger swing.
Trigger: Waiting for a momentum candle close below the gray area to sell.
and of course, as price approaches our lower orange trendline from Daily, we will be looking for buy setups
Until the sell is activated, this one would be overall bullish and can still trade higher.
Good luck!
This analysis is done using RichTL
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www.RichTL.com
My Telegram Channel
www.t.me/thesignalyst
Best CFD broker
cutt.ly/TickmillReal