GU Evaluation - Potential Long upcoming
Weekly:
New LL has been formed and we looking for potential areas where a new LH may form. There is an area of imbalance that needs to be corrected.
Price has formed a double top and looks to be range bound. It is possible that the bottom part of the range gives us the support to grab liquidity above the double top and correct the imbalance @ 1.7000 region.
There has also been a strong impulsive move up from the previous HL followed by possible consolidation (complex retracement). Previous LH has been broken however we need to see a new HL to confirm structure change.
Initial bias - Bullish
Daily
There was a strong impulsive move, followed by corrective action - ranging.
There is liquidity sitting above the double top, however liquidity on the bottom side may need to be taken to provide the catapult to the POI.
If the weekly bias is Bullish, the HH and HL structure on the Daily needs to hold.
4 Hour
There is a clearly Order Block with Imbalance (OBIM) visible. Considering our HTF bias is bullish we are looking for POI that can be support to push price higher. We wait to monitor the reaction of price at this HTF OBIM.
There is a double bottom forming. Potential inducement. Inducing buyers to place orders, SL below the double bottom which may be grabbed as liquidity before mitigating the HTF OBIM.
* Will update when HTF OBIM is reached @ 1.9300
* This is purposefully for my own journaling and tests. Not Financial Advice.
New LL has been formed and we looking for potential areas where a new LH may form. There is an area of imbalance that needs to be corrected.
Price has formed a double top and looks to be range bound. It is possible that the bottom part of the range gives us the support to grab liquidity above the double top and correct the imbalance @ 1.7000 region.
There has also been a strong impulsive move up from the previous HL followed by possible consolidation (complex retracement). Previous LH has been broken however we need to see a new HL to confirm structure change.
Initial bias - Bullish
Daily
There was a strong impulsive move, followed by corrective action - ranging.
There is liquidity sitting above the double top, however liquidity on the bottom side may need to be taken to provide the catapult to the POI.
If the weekly bias is Bullish, the HH and HL structure on the Daily needs to hold.
4 Hour
There is a clearly Order Block with Imbalance (OBIM) visible. Considering our HTF bias is bullish we are looking for POI that can be support to push price higher. We wait to monitor the reaction of price at this HTF OBIM.
There is a double bottom forming. Potential inducement. Inducing buyers to place orders, SL below the double bottom which may be grabbed as liquidity before mitigating the HTF OBIM.
* Will update when HTF OBIM is reached @ 1.9300
* This is purposefully for my own journaling and tests. Not Financial Advice.
Equal lows on LTF taken out. We are approaching the HTF OBIM. This OBIM aligns closely with the previous Daily Higher Low. This higher low needs to be respected otherwise 1.1600 is next.