We have currently trapped price in a horizontal channel which tells us the market is currently ranging and in its first stage of the market Cycle "Contraption phase" We do not want to enter the market till we identify a clear trend structure hence why we are patiently waiting for a break of either zone which we can look at a clean entry to get in the market to capitalise on the big move of the market cycle " Trending phase" And target the institutional zones above or below as a take profit.
Good luck! -Risk management is key... This is a speculative setup, not investment advice.
Im thinking much the same, that move up seems likely sometime over the next few days to create a weekly wick. Im also keeping my eye on that L zone you drew for what could be a awesome sell!
onzzfx
⋅
@AquaTrade, Yes you are correct! We will see how this one plays out...