Last week I was looking at a potential change in the H4 context and whilst we have had a reaction from the H4 extreme there hasn't been enough to substantiate a HTF change of direction as the H1 and M15 lower highs are still intact, albeit swept which is an indication for me that price is looking down.
We created a powerful M15 demand zone at 1.09399 that I do expect a reaction off so I will be looking for confirmation entries to go long early on in the week however I do expect this downward pressure to prevail and the H1/M15 BoS to be taken at 1.09125 and eventually the Daily inducement at 1.08330.
Something else to note is that there is a Daily demand zone at 1.09006. I would normally consider this SMT due to the fact we haven't had an inducement taken but there is nothing below it worth looking at so in this example it could be worth giving it some weight or we can expect it to fail and a sweep of the Daily inducement providing us with a Daily range to work within.
# Scenario A
We reject from the M15 IFC and push up to one of the M15 demand zones before pushing down to the higher time frame targets
# Scenario B
We carry on engineering BSL up to the H4 supply zone at 1.10895 before moving down to the lower HTF targets
We created a powerful M15 demand zone at 1.09399 that I do expect a reaction off so I will be looking for confirmation entries to go long early on in the week however I do expect this downward pressure to prevail and the H1/M15 BoS to be taken at 1.09125 and eventually the Daily inducement at 1.08330.
Something else to note is that there is a Daily demand zone at 1.09006. I would normally consider this SMT due to the fact we haven't had an inducement taken but there is nothing below it worth looking at so in this example it could be worth giving it some weight or we can expect it to fail and a sweep of the Daily inducement providing us with a Daily range to work within.
# Scenario A
We reject from the M15 IFC and push up to one of the M15 demand zones before pushing down to the higher time frame targets
# Scenario B
We carry on engineering BSL up to the H4 supply zone at 1.10895 before moving down to the lower HTF targets
Vagrant market bully.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
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.
Vagrant market bully.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
No course and no challenge passing, please don't ask. Luck is what happens when preparation meets opportunity.
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.