Weekly Outlook
There is evidently a shift in momentum, price has retraced with three bearish candles, including a bearish engulfing weekly candle, resulting in a 300 pip drop. The counter trendline was broken but sell sell-side liquidity is yet to be taken out. If price takes out the SSL there will be a choch and we can expect price to seek a premium price and a HL for a potential shorting opportunity
There is evidently a shift in momentum, price has retraced with three bearish candles, including a bearish engulfing weekly candle, resulting in a 300 pip drop. The counter trendline was broken but sell sell-side liquidity is yet to be taken out. If price takes out the SSL there will be a choch and we can expect price to seek a premium price and a HL for a potential shorting opportunity