Since the ATH of the Dow and other indices were created, we've seen a major sell off, at around -10%, not making it a BOS towards a bear market which would have to be at around -20% or so. From that up until now, price action has been following the seasonality charts pretty on par.
Based on technical analysis (look markups), seasonality, and other confluence, we can anticipate the market to give us a rally higher more towards the ATH closing out February. Clear upside targets of liquidity in the form of retail positions, institutional positions, and imbalances, so all in all, looking for the BOS towards the upside so we can catch the clean, low risk, high reward re-test entries. With a lot of news in this week as well, we can definitely anticipate a lot of market manipulation for the institutions to close out positions making aggressive moves.
Looking at the confluence and confirmation checklist, we have:
Daily direction - Ranging higher with higher highs and higher lows
Structure - still looking bullish on the 4h, lots of liquidity grabs and meaningful mitigations that have been filled towards the downside, using the news as an excuse. Still looking for upside targets. The indices are currently correlating with each other, all giving a hidden bullish divergence with price combined with the RSI on the 4 hr, which is something to keep in mind.
Entries - Using the lower time frames 1h - 1m for order flow, we can get the best possible entries with low risk high rewards, ranging from possible 5:1 - 20:1.
CONFIRMATION CHECKLIST TO ALIGN YOURSELF WITH SMART MONEY:
1. Awareness & intention
2. Structure / Wyckoff
3. Liquidity (Retail money 🐑)
4. Institutional Positions (🐳🐳🐳)
5. Imbalance
6. Break of Structure
7. Mitigation (Zone of interest 🔫)
8. Divergence (Correlations)
Good trading,
Jørgen - Topearnertrading
Based on technical analysis (look markups), seasonality, and other confluence, we can anticipate the market to give us a rally higher more towards the ATH closing out February. Clear upside targets of liquidity in the form of retail positions, institutional positions, and imbalances, so all in all, looking for the BOS towards the upside so we can catch the clean, low risk, high reward re-test entries. With a lot of news in this week as well, we can definitely anticipate a lot of market manipulation for the institutions to close out positions making aggressive moves.
Looking at the confluence and confirmation checklist, we have:
Daily direction - Ranging higher with higher highs and higher lows
Structure - still looking bullish on the 4h, lots of liquidity grabs and meaningful mitigations that have been filled towards the downside, using the news as an excuse. Still looking for upside targets. The indices are currently correlating with each other, all giving a hidden bullish divergence with price combined with the RSI on the 4 hr, which is something to keep in mind.
Entries - Using the lower time frames 1h - 1m for order flow, we can get the best possible entries with low risk high rewards, ranging from possible 5:1 - 20:1.
CONFIRMATION CHECKLIST TO ALIGN YOURSELF WITH SMART MONEY:
1. Awareness & intention
2. Structure / Wyckoff
3. Liquidity (Retail money 🐑)
4. Institutional Positions (🐳🐳🐳)
5. Imbalance
6. Break of Structure
7. Mitigation (Zone of interest 🔫)
8. Divergence (Correlations)
Good trading,
Jørgen - Topearnertrading