Daily is currently in a bullish trend and the 4h is now aligning with the Daily timeframe going for that next higher high. We have now switched from bearish to bullish in the 4h timeframe and we are expecting a new higher low to be formed in order to continue our bullish trend. we have now some potential levels of demand in discount pricing of the 4h leg in which price could pullback into, filling the inefficiency left behind and sweeping the liquidity laying above our demand levels.
Remember, always trade the reaction and follow through. follow orderflow, do not set any expectations. Let the market do it's thing and follow along.
Yesterdays push down on London close time was to take liquidity for further move up next week zone till discount price and only than expecting to go lowe
I have GJ bearish for now. Price has traded through premium prices, coupled with taken out buy side liquidity. That is why you see a huge bearish candle, a failed higher high, and a bearish market structure shift. Price wants to seek sell side liquidity which rest below those equal lows at 159 level. This will be the ultimate target before considering a reversal to the upside. That's my two cents. Have a nice weekend and have a profitable trading week ahead!
tianny1411
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@GIMFCFX considering the whole 4h bearish leg this could also be a possible scenario. We could just sweep the eql to continue the Daily bullish trend, Thank you for your insight!
@tianny1411 we could could go lower in to discount prices in the daily considering the whole bullish leg as our trading range.
GIMFCFX
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@tianny1411, yes there's a possibility to see prices go deeper into discount to the tune of 154 level. We have to keep in mind that the institutional weekly order flow is bullish, so I don't think price wants to to retrace that deep before going back up to the tune of 175 level. We will see.