Timeframe: Daily
Market Bias: Bullish Market Bias
1. A congestion of candles formed a Support & Resistance Zone.
2. A Bullish Pinbar rises from Support, leading to a bull run that can be measured to create an
equidistant Take Profit of 39100. A previous Take Profit projection is even higher at 39209.
3. An Outside Day pattern formed to suggest volatility to the opposite direction, then a
retrace. The next bullish candle dropped lower then the low of the Outside Day pattern, then
retraced to the upside.
4. The candle that retraced is a giant Spinning Top, which is traditionally suppose to mean
tiredness and indecision, but has the opposite meaning with US30. It is more of a pause to
rebuild its energies to continue the bull run with greater conviction. Don't be fooled when
you see a Spinning Top; it's a trap.