Looking for support in the area of 143x in the coming week for possible buying opportunity. 143x will coincide with the high volume line (Point of Control (POC)) from last week's range on 2hr chart and the new pivot for Feb. If support forms at this level, I'll look to the 5pip/3min chart for a setup to enter long position. If price breaks below this level, then will re-evaluate bias and direction.
Comment:
Going into the close today, I'm seeing the opposite of what I was expecting to setup a long entry. With price dropping the Feb pivot and the POC from last week, this looks more like a short setup vs. a long. Looking at the 5pip renko, indicators look like they're starting to evolve more bearish. might look at this from a short side now.
Comment:
Looks like the lower value area from last week was holding but with Feb cam S2 and weekly S1 close now, those could be targets for support.