Looking at price action we have a lot of upside potential but we currently have a massive imblaance below after all the tarriff chaos.
expecting a quick touch on the supply above with an expectation to collect all of the imbalance below ready for a drive to the zone you can see at the top of the chart. These are supply zones which are still left open from June 21 and Feb 22 with some major imbalances directly after them on the daily.
Confluence for the touch on supply zone is the equal highs created which will leave us with some liquidity above. This paired with the open supply should give us some decent selling power to come back to the downside for the demand.
Confirmation needed for any move from these zones.
expecting a quick touch on the supply above with an expectation to collect all of the imbalance below ready for a drive to the zone you can see at the top of the chart. These are supply zones which are still left open from June 21 and Feb 22 with some major imbalances directly after them on the daily.
Confluence for the touch on supply zone is the equal highs created which will leave us with some liquidity above. This paired with the open supply should give us some decent selling power to come back to the downside for the demand.
Confirmation needed for any move from these zones.
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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.