Weekly trend is still up, but fvgs formed on the way down, showing bearish intent
Price swept the 2 april lows' liquidity and then moved back up strongly on 5 aug week, creating a weekly bisi in the process, which is a bullish sign. Now bulls want to see the weekly fvg hold but currently it looks like its not holding. I will remain bullish only if this week's candle closed with lower wick to respect the bisi. Which means nfp has to push price up by a lot, if not, more downside to come
Price swept the 2 april lows' liquidity and then moved back up strongly on 5 aug week, creating a weekly bisi in the process, which is a bullish sign. Now bulls want to see the weekly fvg hold but currently it looks like its not holding. I will remain bullish only if this week's candle closed with lower wick to respect the bisi. Which means nfp has to push price up by a lot, if not, more downside to come
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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.