The price is consolidating in a higher timeframe inefficiency following the election expansion, which makes market conditions more difficult than usual.
Last week, the price consolidated (time distortion), so this week I would expect an upward expansion towards the weekly target.
Just above the short-term target, there is a bearish propulsion block on the higher time frame. Depending on the reaction in this area, we will see if the weekly target is reached.
This week we have NFP, Powell, and unemployment claims, so I expect volatility.
Last week, the price consolidated (time distortion), so this week I would expect an upward expansion towards the weekly target.
Just above the short-term target, there is a bearish propulsion block on the higher time frame. Depending on the reaction in this area, we will see if the weekly target is reached.
This week we have NFP, Powell, and unemployment claims, so I expect volatility.
Trade active
Short term .target reached. Lets see how price reacts to this area.Note
Price closes above 50% bearish propultion,and uses it as support. I'm looking for a weekly target to be hit on Wednesday or Thursday.The price should not close below 20,960 to hit the weekly target.
Trade closed: target reached
Weekly target reached. Lets see what NFP delivers
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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.