supply&demand momentum setup , top-down analysis MN-W-D
Updated
starting off my analysis on the MN timeframe price took out a supply level @ 67.28 with its rally to the upside , price then made a swing high @ 86.68 before retracing , with the retracement being the market coming to retest the break of the MN supply level now acting as demand (prev supply becomes demand) at the level I also have a weekly demand level @ 69.91 which is currently in control and at the level I spotted a nested daily demand/valley @ 66.50 which is both fresh and original , still on the daily THE MARKET formed 2 swing higher lows which I used to connect my bullish trendline and this past trading week price came to retest the trendline and failed to close below it , providing me with a momentum setup. I am going long soon as the market open with targets at weekly supply 81.65 where there is also an unfilled gap.
Trade closed: target reached
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