US30 - levels levels

Right then you lovely lot. Bit of really simple, US30 analysis for your weekend.

If you go onto the daily time frame you will see how bullish US30 has been this last year. I personally think this has a lot to do with covid and how a lot more people have looked into investing etc and this in turn has seen stocks/shares in general reaching all time highs.

So from looking at this chart we can see we are creating little structure levels where price meets, reacts then continues. We have now reached a nice daily level at 35548 and above that we can see these structure zones. I anticipate we will react back up off this daily level, break through structure then have some ranging before we come back to structure before continuing our move up. Now you could sit there and say well why not hold from that level all the way up... well yes you can but the way i trade i like to plan, get in and out and take my time to look again and then execute a further trade.

If we hold from the daily level (depending on your broker) you start paying swap prices etc which in turn eats into your profit. And of course it then becomes risky to just hold. This is my outlook on the pair so this is what i will be looking out for next week.

I'll be interested to see your comments on this! :)