Part 1 - The Overview
1) 1D - IT is still bullish, but clearly showing reversal signals / 4H - IT has turned bearish but still waiting for a MS shift.
2) Focused on the Daily support level if price falls out of the wedge.
3) Wedge formation on 4H/1D supporting the thesis that this move up has been corrective in nature.
4) New Monthly Sentiment - Bearish / New Weekly Sentiment - Bearish
Part 2 - The Day-2-Day
5) 15M/1H MS has been organized
6) Previous day's Value Area (VA) could still be reached, and I would be opening shorts at that range.
7) Current VA is trending with most of the PA happen around the open of today.
8) Entry targets will be adding on pullback, beginning at 38.2% retracement. Stops will be above monthly open/61.8%.
9) Optimal scenario for me is breakdown of the wedge.
Part 3 - Execution
10) No alerts set, just monitoring manually.
11) The story i see is bearish continuation, with first target being the lower Daily Level.
12) Prepared to short pullbacks up to the Weekly/Monthly Open.
1) 1D - IT is still bullish, but clearly showing reversal signals / 4H - IT has turned bearish but still waiting for a MS shift.
2) Focused on the Daily support level if price falls out of the wedge.
3) Wedge formation on 4H/1D supporting the thesis that this move up has been corrective in nature.
4) New Monthly Sentiment - Bearish / New Weekly Sentiment - Bearish
Part 2 - The Day-2-Day
5) 15M/1H MS has been organized
6) Previous day's Value Area (VA) could still be reached, and I would be opening shorts at that range.
7) Current VA is trending with most of the PA happen around the open of today.
8) Entry targets will be adding on pullback, beginning at 38.2% retracement. Stops will be above monthly open/61.8%.
9) Optimal scenario for me is breakdown of the wedge.
Part 3 - Execution
10) No alerts set, just monitoring manually.
11) The story i see is bearish continuation, with first target being the lower Daily Level.
12) Prepared to short pullbacks up to the Weekly/Monthly Open.