After many days of sideways choppiness between 29 & 29.5K. The pattern was broke sending us into that FVG I have mentioned in previous posts with a target of 26.5K. However, having dropped down to 28.5k and back up to 30k in 11 hours some volatility has been reintroduced into the market in the short term.
I have mapped out a mini range that I am observing, the 29.5K pivot is still the controlling factor in my mind. Now that price has deviated above and is now back in range printing a SFP, in addition to a bullish orderblock that is providing a reaction as the time of writing this post. I still think we have some downside to come should this reaction now clear the pivot point of 29.5K
Because of this, I am still confident that reaching the 26.5k target is possible. Regaining 29.5k confidently and proof that it is now support would make me reconsider this strategy.
I have mapped out a mini range that I am observing, the 29.5K pivot is still the controlling factor in my mind. Now that price has deviated above and is now back in range printing a SFP, in addition to a bullish orderblock that is providing a reaction as the time of writing this post. I still think we have some downside to come should this reaction now clear the pivot point of 29.5K
Because of this, I am still confident that reaching the 26.5k target is possible. Regaining 29.5k confidently and proof that it is now support would make me reconsider this strategy.