Today's update illustrates the ranges I’ve added for better clarity on the current structure, but the original ideas are still in play
Monday’s Range (pdL - pdH): This defines our local range, providing immediate levels to monitor. December’s Low/High (pmL - pmH): This establishes our trading range, capturing broader market behavior. Yearly Open (yO): A critical pivot level that has been reclaimed, marking a bullish shift in sentiment.
Current Outlook: Dips are still for buying, and even if the price revisits the local supply zone, there’s no need to FOMO. My expectation is for one more shakeout or consolidation before we see a strong move toward new highs.
Market Context: This week is packed with significant catalysts, including CPI data, retail sales, and geopolitical events like the inauguration, which could trigger volatility. These events could act as a “sell the news” setup or pave the way for higher volatility—either way, patience will provide much safer entries.
Strategy: Even if we don’t see a dump, allowing the dust to settle will offer clearer levels to work with. My hunch is that we’re not done with volatility yet, and the next major move could provide an excellent opportunity for positioning. Hold your levels and let the market show its hand as I still believe that higher targets remain intact once this consolidation completes🍾
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