This monstrous 34R setup on the premises that we are going to tap the demand zone one more time before breaking the structure for new highs.
Beautiful downtrend here, the market is doing its thing. If we get a swing low then we might come back to re-visit some of the new supply zones left behind. @IssHaf
If this is a Swing High then we might see a pullback into the demand zone. Remember: it's never hard to get in, it's hard to get out!
It might be a year ago, but the algorithms don't forget their targets haha. If it's cheap they'll have it!
We definitely have the potential for a reaction around this area that we are in right now. I feel like the last demand zone will not get touched again.
The bias here will be that we gonna hold and move higher but the trend it's clearly down and we have another zone of demand that's unfilled.
We know how the price likes to come back and test some of this demand zones. Let's see if we have a potential trend change or if we're going lower this is gonna happen quick.
We are literally "stuck" in between 2 golden zones with 2 algorithms that have 2 different targets. This is literally a battle between bulls and bears or a.k.a. Ping-Pong within a range.
We can definitely make the case that this move down was just a liquidity grab from the smart money and now we are going for new highs.. I would indeed like to see that too
At this degree, we might say with confidence that this looks juicy. However, this move started already, another opportunity will present itself soon so keep your heads up.
Just to be clear, the trend is still down, we have two taps into the average from below, but what I'm trying to say here is that we might have another push up to check the supply zone again.
This one starts to look very juicy if we get down there, will see as we go along...
I like the strength of the trend, I believe that we might come back to grab some unfilled orders and then continue the trend higher.
We are quite far from the GODMA which leads me to the idea that this correction might be a bit sideways in order to allow for the price action to come back to the mean.
We had another break of structure with this last leg up that created a swing high. The expectation will be that the trend continues higher but also comes back to retest the previous demand zone left behind.
With the unlimited supply from fed and with what happened in the last years we don't now how far this can go and for how long. What we do know is that every country is getting affected differently and at different times.
What in the earth has to happen for this to be realized? Doesn't matter the market, a cycle is a cycle. Looking forward to see how this one develops.
The overall macro trend it's bullish but we seam like we have finished something here and we are ready for a correction.