US30 long

5 ago

Hello traders, I believe that US30 is due for some buy orders to be filled. Here's why;

• On the weekly timeframe, price broke below a major liquidity region at 40,000 and has not retested the region. Price might collect orders at 39,215 before it retests 40,000
  
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• On the daily timeframe, there is an M formation. There are a lot of orders that have been filled at 39,320. Price may collect orders from that region before going to retest 39,875.
  
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• It is a Monday morning, hence I am waiting for the market to get a sense of where it is headed to before I do anything.