following market structure we can see that we are failing to break above structure of resistance to now still resistance and our cot report came out very negative and we expecting the market to go and fill up second previous w formation neckline.
our market structure is showing us that it is rejecting the m formation neckline. So we expecting market to move short till the next w formation neckline, which will be our take profit 1. then after wait for market reaction to see if we rejecting the support or we break it for our next trading setup.
We still expecting more bearish movement as we just broke through out strong resistance and currently on our strong W formation neckline. And more bearish contracts were added to continue with more sell movement.
We just broke above our M formation neckline from being a resistance to now a support and our market structure is showing us strong bullish movement, also based on support of contracts added for this week.