Let's Find Out If We Have An Incoming Retracement.
Daily Time Frame
https://www.tradingview.com/x/eiwA11J2/
We have been bullish and just took out a previous high on a daily time frame. This means there will be a retracement soon to 50% of the fibs or way down to 90% to the Demand zone responsible for the impulse which took out the previous high.
Personally I like to use the Line Chart because it clearly shows high and low points without wicks.
2H Time Frame
https://www.tradingview.com/x/sqW28WgC
We have a clear shift of market structure on the 2H with trend line Liquidities and imbalances below. these are just more reasons an confirmations why price would want reach 50% fibs.
15Mins Time Frame
https://www.tradingview.com/x/Avpc7KQg
One more confirmation on the 15M time frame, We see price on the 15 mins making lower highs and lower lows. remember these are the characteristics of down trend. There are 2 OB's under 50% of our impulse leg keep watch out how price reacts on the first OB.
For Entry use your preferred entry strategy always remember knowing your direction is very important. I hope this helps you.
Note: Switch your charts between line and candles for more clarification if you are used to the candle chart.
Your questions are always welcome.
https://www.tradingview.com/x/eiwA11J2/
We have been bullish and just took out a previous high on a daily time frame. This means there will be a retracement soon to 50% of the fibs or way down to 90% to the Demand zone responsible for the impulse which took out the previous high.
Personally I like to use the Line Chart because it clearly shows high and low points without wicks.
2H Time Frame
https://www.tradingview.com/x/sqW28WgC
We have a clear shift of market structure on the 2H with trend line Liquidities and imbalances below. these are just more reasons an confirmations why price would want reach 50% fibs.
15Mins Time Frame
https://www.tradingview.com/x/Avpc7KQg
One more confirmation on the 15M time frame, We see price on the 15 mins making lower highs and lower lows. remember these are the characteristics of down trend. There are 2 OB's under 50% of our impulse leg keep watch out how price reacts on the first OB.
For Entry use your preferred entry strategy always remember knowing your direction is very important. I hope this helps you.
Note: Switch your charts between line and candles for more clarification if you are used to the candle chart.
Your questions are always welcome.
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