The daily uptrend is pretty well established and price broke above a pretty clean resistance area and then tested the trend line with good rejection. Price broke the prev daily high and closed above the last down candles EQ (50% rea) with what appears to be possible buying Risk is 1%
In this vid I point out that we could see a breach of the most relevant low at some point, which is quite near the 62% retracement area of the larger timeframe parent structure. It's interesting that the low and the 62% area are about 20 pips apart, which seem to meet the pip grade concept that ICT so eloquently fleshed out.
Price is currently inside a descending structure after a bullish impulsive move,looking for a buy entry on a break of LTF flag. Another confirmation is the formation of an inverse head and shoulder on HTF structure giving us more confluence to the upside.
So far I have had a breakout from a key daily level I have marked on my chart. I believe this will end up forming to be a false breakout with bearish momentum to the downside to my other market level.
Or with how things are going at the moment, we could see the bearish momentum continues strongly towards the downside.
Have a wicked week trading everyone and...
The Ninja or Gopher is is expected to sell to complete the expanded flat with a special diagonal on the higher timeframe.
on the lower timeframe, we should be looking at selling breakout of ever flag correction until wave two of the weekly time frame(expanded flat is completed)
NB: Do not risk more than 1% of your equity per trade(Position sizing)
4. American Airlines
1. No Supply Signal as support
2. 20/40ma as confirmation for trend
3. Green Pentagon for momentum
This information only serves as reference information and does not constitute a buy or sell call. Conduct your own research and assessment before deciding to buy or sell any stock