US30 (Dow Jones) Market Analysis and Trade Setups

Single phase still on it and everything is going smoothly

US 30 Trade Setup
Entry: 51139
SL: 51277
TP: 50702

Trade Idea: I'm looking out for short opportunity because price has broken back below the key level it broke out from during NFP turning the support into a resistance. I'm waiting for a good confirmation before execution.

US30- on 15mins, price invalidated the intraday channel it created after NFP drove price to the resistance level at 51478 and retreated sharply breaking below the NFP low and going for a retest of the Level.
Entry: 51139
SL: 51277
TP: 50702

Also, the Entry level is near yesterday's high which is at 51,200. A close below yesterday's high today can possibly cause price to start with sells tomorrow down to today's open at 50924, before price will decide if it will continue the sells lower or respect the low and reverse for buys.

Another possible short position entry is at 51264 which is the retest of the intraday trend support that price invalidated.
A retest of the trendline as a resistance, can offer a good opportunity for shorts, but the challenge with this entry is that price will be trading above the Key support level and might as well use it as a rebound to continue the buys instead of continuing downwards to 50700.
The SL will be best to place above the NFP's high (51505) at 51,520

Invalidation of the NFP's high will indicate price interest to go on a full bullish rally next week.

Alright. best of Luck.

It's to trade on it with solid risk management and avoid pressure to pass the account quick. Having a daily target and risk can be helpful in taking the challenge through a roadmap of discipline.

US30 closed the week in a very sensitive decision zone. The price levels 51,200 and 51,100 serves as a key resistance and support level respectively and breakout on either side of the price level will determine price first direction next week.
A break above 51200, and we'll see a rally first while a break below 51,100 will result in a decline down to 50,900.

US 30 Trade Setup

Entry: 51097
SL: 51235
TP: 50742
Execution: instant

Idea: price has formed an intraday channel, expecting it to trade lower down to 50742 before buys kick in.

Second image.
Entry:51097
SL:51235
TP:50742

The channel gives the short setup a clear structure. watch the lower channel boundary around 50,742 for a reaction, since a clean break below it could mean the expected buy reversal needs to be reconsidered.

I've closed out on the sells at 51131 with Entry at 51097 and switched to buys.
Reason: Price respected the support and has invalidated the 1hr channel.

The closing price 51131 from that 51097 entry shortened the losses. -$14.25 I was risking about a -$100 (0.1%)

Price didn't continue lower and the channel has been invalidated, so I closed out at 51131 with -$14.25 from that 51097 entry price.

Since the channel has been invalidated, reassess the level of price holds above it after a retest then you can go long

US 30 long setup
Entry: 51132
SL: 50873

Idea: a 1hr double bottom created at the Flip zone, signalling potential buy rally.
The 4hr is still forming, so I'll hold till the 4hr candle closes by 10am.

Despite I'm having my entry at 51132 and my SL at 50873, I'm low on my risk (0.25%) because price is still confined to a Daily intraday bearish channel of last month.

I added another entry at 51153 price level, SL-50873

Price is making a retest of the bearish trendline it broke out from, giving me the confidence to add the position.

Entry: 51153, SL: 50873

Why not hold a little you just got invalidated on US30 trade, because price is kind of rebalancing itself just hold on for a clear breakout

That level has been used as support and as a resistance by price several times before, making it a flip zone.
I'm waiting for the current 15mins candle to close bullish, to fully confirm that the zone will hold again as a support. The trendline retest as an added confluence to build my conviction on the possibility of the buy setup.
Still holding my trade.
Entry: 51153, SL: 5087