This is a continuation from my previous idea. If you haven't, please go read it so you understand my reasons for being bullish.
Price is now rejecting from M15 supply at the top of the range but my expectation is that it will break above it and reach the next level of supply tomorrow. This will make the M15 structure bullish and it increases the chance for a continuation towards the H4/1D weak high.
Price is now rejecting from M15 supply at the top of the range but my expectation is that it will break above it and reach the next level of supply tomorrow. This will make the M15 structure bullish and it increases the chance for a continuation towards the H4/1D weak high.
Comment:
Price wasn't able to break above the M15 supply at the top, which indicates that it'll probably go for the H4 demand level that I mentioned initially. If during Asia price continues to break the lows and then mitigates a supply level, I'll consider it valid to take shorts until the bottom of the H4 demand. I'll update this idea tomorrow at the London open.
Comment:
It didn't break the low either, it's stuck within a range atm. I'll wait for more development to make an assessment.