Buy at the weekly low to target the weekly opening price.The market has been forming two accumulations — a monthly one of buyers and a weekly one of sellers. This week, we can see the market holding at a price level that is generating seller accumulation. In my view, the price has the potential to break the bullish trend to sweep out the buyers involved in it and then create an institutional buy in this weekly liquidity zone, aiming again for the price level where the market opened this Monday.
Price action tends to seek equilibrium between Monday’s opening and Friday’s closing, often closing and opening within the same zone. Therefore, if the price drops, we could look for a buying opportunity. Let’s wait for the setup to form in the coming hours or tomorrow.
