Weekly timeframe
Not much to comment on, only cause of concern for the bears here is the fact that we closed the week above the bearish fair value gap. The next and only bullish draw on liquidity on this timeframe is the old highs. The bearish liquidity is more stacked with a fair value gap and two lows, not considering the price action lower than 15 April.
Daily timeframe
8 days of bullish momentum with no strong resistance levels for bears to show their claws, price has now reached a daily bearish fair value gap and one may wonder, will this be enough to cool the bulls off at best? We have a few unmitigated bullish fair value gaps closer to day 3 of this bullish run but US30 tends to move without filling its entire imbalance.
Four-Hour timeframe
8 hours of indecision on Friday before the market closed, this begs the question – considering we ran into a daily bearish fair value gap as well as four-hour-old high buy side liquidity – does the bears want to step in, even just for a correction? We will have to wait and see how this coming week plays out.
Final Thoughts
Let us wait to see what Monday does and I will be tell you what I think in terms of bias, but if a gun is put to my head I will always bet on the higher timeframe and the weekly closed bullish above a bearish fair value gap and therefore chances are CPI may catapult us into new all-time highs.
Not much to comment on, only cause of concern for the bears here is the fact that we closed the week above the bearish fair value gap. The next and only bullish draw on liquidity on this timeframe is the old highs. The bearish liquidity is more stacked with a fair value gap and two lows, not considering the price action lower than 15 April.
Daily timeframe
8 days of bullish momentum with no strong resistance levels for bears to show their claws, price has now reached a daily bearish fair value gap and one may wonder, will this be enough to cool the bulls off at best? We have a few unmitigated bullish fair value gaps closer to day 3 of this bullish run but US30 tends to move without filling its entire imbalance.
Four-Hour timeframe
8 hours of indecision on Friday before the market closed, this begs the question – considering we ran into a daily bearish fair value gap as well as four-hour-old high buy side liquidity – does the bears want to step in, even just for a correction? We will have to wait and see how this coming week plays out.
Final Thoughts
Let us wait to see what Monday does and I will be tell you what I think in terms of bias, but if a gun is put to my head I will always bet on the higher timeframe and the weekly closed bullish above a bearish fair value gap and therefore chances are CPI may catapult us into new all-time highs.