Glossary: VA – Value Area Liq.P – Liquidity Point PiPo – Pivot Point BO – Break-Out H1 – Hourly Time-frame M15 – 15min Time-frame LTF – Lower Time-frame HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest Magenta rectangle – Gap / Area of Significance
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After tapping into the previous swing high and a strong impulsive move to the downside, price formed two smaller consolidations before starting to form a larger bear-flag.
Waiting for a retest of the small Liq.P, finishing the bear-flag and a push down to the VA to fill the HTF Gap.