123 Pattern building on the US30?
We hope the Tradingview community are having a great day. Today we have been looking at the US30, and we can’t help but noints the solid-looking trend break on the current upswing.
This has us thinking, could we see a 123 pattern that sets up a 2nd upswing and confirms the current leg higher as a new short-medium-term uptrend?
We have the V shape pattern that’s nice to see in reversals. Next, if we see further selling develop today and tomorrow, we will start looking for a new move from buyers that breaks the last high, confirms the 123 pattern (HL), and suggests that this upswing could be a new trend.
Until we see further selling, we will continue to wait. But if the above does happen, we will be looking for breaks of the high to possibly set up new longs. If we see a new high today’ we will be waiting, and if selling breaks below 31,700, we will also be waiting.
This has us thinking, could we see a 123 pattern that sets up a 2nd upswing and confirms the current leg higher as a new short-medium-term uptrend?
We have the V shape pattern that’s nice to see in reversals. Next, if we see further selling develop today and tomorrow, we will start looking for a new move from buyers that breaks the last high, confirms the 123 pattern (HL), and suggests that this upswing could be a new trend.
Until we see further selling, we will continue to wait. But if the above does happen, we will be looking for breaks of the high to possibly set up new longs. If we see a new high today’ we will be waiting, and if selling breaks below 31,700, we will also be waiting.