End of US30 Correction? - Bullish move
Updated
Overall trend: Bullish
Current state: Correction and daily and 4h demand zone
Structure being broken? Not yet.
Important events coming up? NFP news tomorrow
So let's begin to take a look at the higher timeframe bias (this is very critical in trading supply and demand), it can be clearly noticed that the overall sentiment of the market is bullish. So we can put that one in our checklist on top.
The price just currently bounced off on a Daily and 4H demand zone, as it is indicated on the graphical illustration. Since we were in a strong bearish move, we need to see market structure change. Since a trend exist out of: HH, HL or LH or LL. We will now be patient and wait for the price to break structure, create a new HH and test another order block before moving up.
From the fundamental side of events, we have NFP news tomorrow, which will have a huge impact on the overall market. We are entering December, where a lot of bonuses are paid out and people pumping money into the stock market.
Be safe in these times and happy trading you all!
Current state: Correction and daily and 4h demand zone
Structure being broken? Not yet.
Important events coming up? NFP news tomorrow
So let's begin to take a look at the higher timeframe bias (this is very critical in trading supply and demand), it can be clearly noticed that the overall sentiment of the market is bullish. So we can put that one in our checklist on top.
The price just currently bounced off on a Daily and 4H demand zone, as it is indicated on the graphical illustration. Since we were in a strong bearish move, we need to see market structure change. Since a trend exist out of: HH, HL or LH or LL. We will now be patient and wait for the price to break structure, create a new HH and test another order block before moving up.
From the fundamental side of events, we have NFP news tomorrow, which will have a huge impact on the overall market. We are entering December, where a lot of bonuses are paid out and people pumping money into the stock market.
Be safe in these times and happy trading you all!
Note
Price Broke Structure which confirms a new uptrend -> moving stop loss to break even to the upside and his heading to our target.
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