US30 10% Drop expected ahead of Election results

3 Nov 2020

US30
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⏳4 Hour chart
🎲 Possible entry analysis
⛳️ Possible bull/bear target
📚Educational

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Detailed analysis 💬

1️⃣ Minor head and shoulder around September high
2️⃣ 2800.00 Key dynamic resistance/Support
3️⃣ US 2020 election outcome will be a key driver
4️⃣ .50 Fibonacci and October low bounce
5️⃣ Parabolic price move expected as June, Sep, Oct high forming a Parabolic structure
6️⃣The 02 uptrend trend line was broken
7️⃣ Technical support - Neutral Ahead of Election results
8️⃣ Short term bullish movement towards 28000
9️⃣ June high Immediate resistance
🔟 june low Possible - Bear target
#️⃣ Overall Bullish trend

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📉 Technical bias-H4-Neutral

Below 200 Exponential moving average
200EMA acting as immediate support - Bearish trend
Possible entry point-28000
Relative strength index - Around 60 well above the neutral area
MACD- Is still above the line and about to cross the line and the histogram is still green ,Oscillators are pointing upward
Stochastic -at 75 Which is over bought territory
Ichimoku cloud -cloud is red-Cloud Support-Bear
Bollinger band- Price is around higher band-Middle band will acting as dynamic support/resistance

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Key reversal area's
26000 Key psychological level
26550 September month high
26040 Dynamic support and resistance
28000 Key psychological level-Major key reversal area
29000 October month high
28000 Possible entry- Bearish
27150 -Alternative entry-Bullish

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Bearish entry #US30

Entry price - 28000

Take profit 01 - 27100
Take profit 02 - 26000
Take profit 03 - 25200

🚫 Stop lose 28450

Alternative Bullish entry-27100

⬇️ 10.29% drop expected
⤴️ Account growth 1.59 :10.29
✅ Risk reward ratio 1 : 6.47

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