HTF bearish bias
Liquidity sweep and BOS on 4H
Previous daily candle formed a lower low
Liquidity sweep and bearish pressure on LTF to potentially mark the end of retracement cycle
- Weekly downtrend with a rejection of the trend line and a printed demand zone on Mar. 27
- Red dots are what seems to me as a A-B-C correction
- Lower time frame demand zone (green box) printed in the higher time frame support/resistance zone (white box)
- Lower time frame head and shoulders printed
- If uptrend momentum holds, I think we will see at least...
- Price currently in the daily demand zone
- Weekly trendline rejection
- 1H trendline break & retest to form head and shoulder pattern
- Price respecting 1H demand zones inside of daily demand zone
- Buy potential
Currently in a short term buy position. See previous post for details. I expect price to reach 110.15 which falls in a major supply zone. From this point, I expect price to continue in the weekly and monthly downtrend. Nice risk to reward opportunity. I will update if and when we get to target sell price.
