Trading is a game of probabilities and patience.
My two hypotheses on the US30:
1- If price breaks and retests the $34,400 area to complete the double top, we'll probably see price target $33,800 in the short term and $33,500 in the medium term ;
2- If price bounces back or fails to break the $34,400 level, then the double top will be false and we'll probably see price rise to $35,000 in the short term, $35,600 in the medium term and $37,000 in the very long term.
Keep in mind that these are probabilities. For me, the second is the most likely, but tomorrow's FOMC meeting will give us more information.
Risk management and patience should be your close friends.
My two hypotheses on the US30:
1- If price breaks and retests the $34,400 area to complete the double top, we'll probably see price target $33,800 in the short term and $33,500 in the medium term ;
2- If price bounces back or fails to break the $34,400 level, then the double top will be false and we'll probably see price rise to $35,000 in the short term, $35,600 in the medium term and $37,000 in the very long term.
Keep in mind that these are probabilities. For me, the second is the most likely, but tomorrow's FOMC meeting will give us more information.
Risk management and patience should be your close friends.