Hi traders!
How is the weekend.
Market is bearish weekly in view of DXY structure. Even though, market is on daily support. Agreed. But it will take another daily candle or two to confirm the validity of the support for bullish major momentum. Since confirmation is on the run, then we’re still bearish, reference to our daily strong bearish momentum, hence 4h shows an extreme weakness of the bull to engage, evidence by the bearish engulfing candle made after a break of a range from the resistance. Thus market could pullback to1953. But any pullback is another reloading opportunity for bearish momentum. All the best my mentors.
How is the weekend.
Market is bearish weekly in view of DXY structure. Even though, market is on daily support. Agreed. But it will take another daily candle or two to confirm the validity of the support for bullish major momentum. Since confirmation is on the run, then we’re still bearish, reference to our daily strong bearish momentum, hence 4h shows an extreme weakness of the bull to engage, evidence by the bearish engulfing candle made after a break of a range from the resistance. Thus market could pullback to1953. But any pullback is another reloading opportunity for bearish momentum. All the best my mentors.
