Hello Traders!
Here we have my classic way of finding daily draw forming out.
Currently price raided a swing high but failed to create a higher swing low.
Instead of a higher swing low we got a raid of a swing low.
If a swing low is broken the stage of a bearish tone may be underway.
However, a trader must have patience and wait for a lower swing high to form.
If a lower swing high forms I will seek for PDL to be raided until we reach a key area or "support & resistance" area.
Here we have my classic way of finding daily draw forming out.
Currently price raided a swing high but failed to create a higher swing low.
Instead of a higher swing low we got a raid of a swing low.
If a swing low is broken the stage of a bearish tone may be underway.
However, a trader must have patience and wait for a lower swing high to form.
If a lower swing high forms I will seek for PDL to be raided until we reach a key area or "support & resistance" area.