US30: Will the Channel Hold? Trading the Intraday Structure

US30 1-Hour Analysis - Potential Trading Setup
Technical Outlook — 11 April 2025

Current Market Condition:
US30 on the 1-hour timeframe is currently trading within a short-term ascending channel, showing a recent test of the upper trendline. The price is now exhibiting signs of potential bearish pullback within this channel.

Potential Trading Setup:

Bearish Pullback Setup (Primary Scenario):

• Entry: Look for confirmation of bearish rejection from the upper ascending channel trendline. This could be in the form of bearish candlestick patterns (e.g., bearish engulfing, pin bar) on the 15-minute or 30-minute timeframe after testing the channel top.
  
• Stop Loss: Place a stop loss above the high of the rejection candle or above the upper channel trendline to protect against a potential channel breakout.
  
• Take Profit Targets:
  
• TP1: The middle of the ascending channel (currently around 40,600).
  
• TP2: The lower trendline of the ascending channel (currently around 40,300 - 40,400).
  
• Potential TP3: If the channel breaks down, the next support zone around 39,800 - 39,900.
  
• Rationale: Trading within an ascending channel often involves buying at the lower trendline and selling at the upper trendline. The recent rejection at the channel top provides a potential short opportunity for a pullback towards the lower trendline.
  

Bullish Breakout Setup (Lower Probability, Requires Strong Confirmation):

• Entry: Consider a long entry only upon a strong and sustained break above the upper ascending channel trendline (around 41,000). Look for strong bullish candlestick patterns and increasing volume on the breakout.
  
• Stop Loss: Place a stop loss below the low of the breakout candle or below the upper channel trendline after it has been broken.
  
• Take Profit Targets:
  
• TP1: Previous swing highs or resistance levels above the channel (refer to the chart for specific levels).
  
• Rationale: A breakout from the ascending channel could signal a continuation of bullish momentum, but requires strong confirmation to avoid false breakouts.
  

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Disclaimer: This content is intended for educational purposes only and does not constitute financial advice.