As what was mentioned in the previous week analysis. We did complete the weekly wick fill and created a lower low.
Going to the new week, we can see that we're clearly still in a higher tf bear. It's important to note though that the current immediate trend is still bullish. We're likely test the weekly zone resistance and also the bearish trend line to see if we get bullish continuations. There should be chance scalping up as we try to test these zones, but for a bias flip - watch the green box instead.
However, if we get rejections, this means that there is a better likelihood that we continue to see the testing of the previous week lows. Good sells down will be in the red box areas. However, if you like high risk sell, a good rejection of the weekly resistance or trend line can serve as a good entry point.
It's important to stay fluid and be prepared to long or short. However, my bias does lean a bit further to the short side just because of the htf structure so far - this might change during the week.
Last week of the month too, avoid trading on Friday and try to close things up early. Stay safe and cheers! If you enjoy my analysis, please hit like so that I know that the work I do is good and I should continue with it. Cheers!
Going to the new week, we can see that we're clearly still in a higher tf bear. It's important to note though that the current immediate trend is still bullish. We're likely test the weekly zone resistance and also the bearish trend line to see if we get bullish continuations. There should be chance scalping up as we try to test these zones, but for a bias flip - watch the green box instead.
However, if we get rejections, this means that there is a better likelihood that we continue to see the testing of the previous week lows. Good sells down will be in the red box areas. However, if you like high risk sell, a good rejection of the weekly resistance or trend line can serve as a good entry point.
It's important to stay fluid and be prepared to long or short. However, my bias does lean a bit further to the short side just because of the htf structure so far - this might change during the week.
Last week of the month too, avoid trading on Friday and try to close things up early. Stay safe and cheers! If you enjoy my analysis, please hit like so that I know that the work I do is good and I should continue with it. Cheers!