Daily View - We can actknowedlge that price is currently consolidation within a Large supply zone from where we saw last weeks news.. I would like to see us return into the Demand further down as we will be getting close to being over sold. From there we can notice smaller amounts of Sell side Liquidity to test before powering into Buy side Highs.
Currently we are also testing a Resistance zone which is still currently strong so that tells me price will need to really push through with volume to invalidate this level.
Smaller Time frames suggest a break and retest from this supply zone. If we get a Bearish break and retest I would consider this a fadeout for the favour of resting Liquidity sitting lower to collect as mentioned before.
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Currently we are also testing a Resistance zone which is still currently strong so that tells me price will need to really push through with volume to invalidate this level.
Smaller Time frames suggest a break and retest from this supply zone. If we get a Bearish break and retest I would consider this a fadeout for the favour of resting Liquidity sitting lower to collect as mentioned before.
Please follow for any questions
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.