Here is a text book supply and demand setup I would say. Overall G/C is sitting in a daily demand zone and on the 4h it took the imbalance zone and started to form higher highs and lower lows. in other words it started changing character. So I see the long term trend has shifted and I will be looking to only buy this market for next couple weeks. This Looks like a nice 1:4 lining up in my opinion for an intra day trade. I would look for a shift in market structure from down to up on the 1min or 5min. Then take my entry or if given a beautiful engulfing candle I may just take it then.
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.