Hi Traders! We have Dow Jones bearish opportunity forming at the moment. A detailed analysis of this sell setup is as follows:
US30 Daily Chart:
On the daily chart the price which is moving higher has currently created a hidden bearish divergence, which we may consider as an evidence of bearish pressure. We may now start looking for more bearish evidences on lower timeframes in order to join the bears.
US30 H4 Chart:
On the H4 chart the price has created a bearish divergence which we may consider as an evidence of bearish pressure. We also have an uptrend line that has formed and the price is respecting it so far. If the price moves lower and breaks below this uptrend line we may then consider this as another evidence of bearish pressure and then start looking for sells with more bearish evidences.
Note: It is always recommended to look for confirmations before you jump into any trade. If you are not sure about how to trade this sell setup then you can use any setup and strategy that you have in your arsenal to look for bearish moves and join this sell trade.
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