Buyers want 1.1024 4Hr Zone Holdd.. before potential Avalanche ⛄
Updated
Scalping, Scalpingg. Has taken my heart. Discipline and Patience. Aggressive when it times to be aggressive. Fearless when it's time to be fearless. Trust in thy system and process. And Gold to be attracted to thy pocket with time and accumulate in ever increasing quantities. Will bulls hold 1.1024 4hr Zone? Or as the Daily candle flips bearish at 1.10239 will bears take us back to Support on the daily timeframe once more at 1.09718.
1.10148 Current Daily Low being the current Daily Low -->
1.10148 is a 1Hr Zone and our last potential Support before I see Sellers taking over once again.
The 1hr timeframe and 4hr timeframe have clean traffic to the left hand side and we should mirror those as we go back down.
CPI on wednesday will most definitely shake things up. Early in the week we have seen the market be proped up by Asian session buying.
Will this buying pressure be sustained?
Bulls
+ Monthly Candle is Bullish
+ New Weekly Candle gapped up and is Bullish
+ Friday Daily Candle Closed bullish
+ the first 1hr of our new 4hr candle jsut closed Bullish above 1.104
+ 4Hr market structure is Bullish
+ A bullish Asian session to begin the week. Price has been consolidating since London Session open with 1Hr candles printing in a tight range
+De-Dollarization appears to be more evident than ever
Bears
the 9am GMT 4hr candle closed below 1.104 4Hr Level
Price is still holding steadily below 1.10590 Weekly Level
Price is leaving a Top wick appearing to reject Daily Level 1.1059
The weekly candle last week printed a Lower Low and a Lower High on that timeframe.
1.10148 Current Daily Low being the current Daily Low -->
1.10148 is a 1Hr Zone and our last potential Support before I see Sellers taking over once again.
The 1hr timeframe and 4hr timeframe have clean traffic to the left hand side and we should mirror those as we go back down.
CPI on wednesday will most definitely shake things up. Early in the week we have seen the market be proped up by Asian session buying.
Will this buying pressure be sustained?
Bulls
+ Monthly Candle is Bullish
+ New Weekly Candle gapped up and is Bullish
+ Friday Daily Candle Closed bullish
+ the first 1hr of our new 4hr candle jsut closed Bullish above 1.104
+ 4Hr market structure is Bullish
+ A bullish Asian session to begin the week. Price has been consolidating since London Session open with 1Hr candles printing in a tight range
+De-Dollarization appears to be more evident than ever
Bears
the 9am GMT 4hr candle closed below 1.104 4Hr Level
Price is still holding steadily below 1.10590 Weekly Level
Price is leaving a Top wick appearing to reject Daily Level 1.1059
The weekly candle last week printed a Lower Low and a Lower High on that timeframe.
Note
Nothing short of an avalanche to End the first NY session of the week. The NY 4hr candle closed bearish. The new 4hr candle opened and went to go fill the previous 4hr candle low. The 4hr candle closed above 1.1024 and I was on the wrong side for a bit. However, I was flexible and jumped on the train to retest the Low as price was descending. 🤓 Note
Note
Retest of Low Trade #1 Note
Bears took Us back to 1.097 on the daily Timeframe as anticipated.1.1024 was a key area for the Bulls. We mentioned that if we did not hold this price 1.1024 or 1.10148 (as a last chance for bulls), we would be headed back to the bottom part of the range. Which we did. :)
Note
Now we must observe to see how Price behaves at the bottom of our Range on the Daily timeframe. We are currently sitting in between our two Daily SupportLevel's at 1.09728 and 1.09495. This is a Key place to observe if Bulls will re-stock their inventory for Long Positions or the Bears hold and add to positions as we retrace to the previous S/R Zone on the weekly timeframe at 1.086.
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