My bias for US30 is bullish, hence why we are looking forward to the nearest buy opportunity which will be the 14hr demand below. This zone has caused a BOS to the upside meaning once a correction back down is complete, it will hopefully mitigate our POI where we will be able to enter buy positions. But we must wait for our lower time frame confirmations like Wyckoff.
There's a long wick that hasn't got filled in which I see as liquidity hence why I haven't got any near by supply zones however, we can catch buys up to that (7hr supply) so we can eventually sell back down. Nevertheless, price could go lower as price has been very impulsive and it has left quite a few imbalances below. So we could see a mitigation of a cheaper zone like the 10hr.
Confluences for US30 Buys are as follows
- Overall Market trend (short term and long term) is both bullish, matching my bias.
- For price to keep going higher it must create a pull back in order to create a new leg.
- Price has CHOCH and caused several BOS to the upside confirming the trend.
- Liquidity has been swept already so there's enough momentum for price to push upwards.
- Price left a 14hr demand at a psychological level of 1990 that caused an impulsive move up.
- Pending Wyckoff accumulation to play out as price is not near my POI as of now.
P.S. I don't personally see a current near by supply to take sells from so I would rather wait for price to "show me its hands" and take it from there. In addition to this, Price is between a lot of liquidity right now and we might just see a consolidation but, we have to always remain adaptive hence why we have spoken about both scenarios that could play out.
There's a long wick that hasn't got filled in which I see as liquidity hence why I haven't got any near by supply zones however, we can catch buys up to that (7hr supply) so we can eventually sell back down. Nevertheless, price could go lower as price has been very impulsive and it has left quite a few imbalances below. So we could see a mitigation of a cheaper zone like the 10hr.
Confluences for US30 Buys are as follows
- Overall Market trend (short term and long term) is both bullish, matching my bias.
- For price to keep going higher it must create a pull back in order to create a new leg.
- Price has CHOCH and caused several BOS to the upside confirming the trend.
- Liquidity has been swept already so there's enough momentum for price to push upwards.
- Price left a 14hr demand at a psychological level of 1990 that caused an impulsive move up.
- Pending Wyckoff accumulation to play out as price is not near my POI as of now.
P.S. I don't personally see a current near by supply to take sells from so I would rather wait for price to "show me its hands" and take it from there. In addition to this, Price is between a lot of liquidity right now and we might just see a consolidation but, we have to always remain adaptive hence why we have spoken about both scenarios that could play out.