currently price is around the lvl of the 1st recovery after the covid crash (sept 2020).
low risk to reward play. sell stops cleared out after CPI print then buy stops cleared out immediately after that. PA delivered to a fair value to set the stage for short term upward price movement.
also gotta FVG that needs to be filled
looking at HTF (weekly & daily) seems to confirm this also.
fundamentally, because of all the mess going on in the world there could be a black swan event any day that traps market below 3590 lvl & falls straight to 3400.
the powers that rule the world have balance & stability in their hands, will they handle it responsibly? my guess, is no.
prepared for the worst, hoping for the best.
whatcha think??
my legend:
* Red dashed line- BSL
* Solid red line- Hard resistance
* Red box- Buy side FVG
* Green dashed line- SSL
* Solid green line- Hard support
* Green box- Sell side FVG
* Purple dashed line- IRL
* Purple solid line- BMS/TP target
* Orange dashed line- Liquidity range (ERL)
* Purple box- Range FVG
low risk to reward play. sell stops cleared out after CPI print then buy stops cleared out immediately after that. PA delivered to a fair value to set the stage for short term upward price movement.
also gotta FVG that needs to be filled
looking at HTF (weekly & daily) seems to confirm this also.
fundamentally, because of all the mess going on in the world there could be a black swan event any day that traps market below 3590 lvl & falls straight to 3400.
the powers that rule the world have balance & stability in their hands, will they handle it responsibly? my guess, is no.
prepared for the worst, hoping for the best.
whatcha think??
my legend:
* Red dashed line- BSL
* Solid red line- Hard resistance
* Red box- Buy side FVG
* Green dashed line- SSL
* Solid green line- Hard support
* Green box- Sell side FVG
* Purple dashed line- IRL
* Purple solid line- BMS/TP target
* Orange dashed line- Liquidity range (ERL)
* Purple box- Range FVG