US30_Top_Down_Analysis
Given the current situation on a Macro_Economic Level, it is having an impact on all Indices across the board. Furthermore, Stocks in essence are in need of a Correction. On a further note, PA has been tricky as of late to determine as it has no clear direction at the moment.
From an MTF perspective, it is indicative an MTF_CHOCH which is indicative of a Bearish sentiment at play. From an HTF point of view, more downside potential is Probable.
With a closure below the WTF_Swing_Range, or Range_Low, confirmation that PA is still Bearish in nature. With WTF_LL, Wick_Low, breached below, with no other PA not trading below and closing below the Wick, and as a result, DTF/ H4 staged a Pullback on an LTF.
Week of 28/02 - 04/03 Candlestick closed as a Bearish Indecision Candle (Inside Bar), High Probability of PA to have a deeper Pullback if Bearish sentiment is to remain in the Short-Term.
DTF is Ranged in Structure, with PA Trading as Resistance/ Retest of H&S. PA is trading at a Level of Resistance. have completed the H&S Charting Pattern.
one thing to take note of is the closure of the week with it closing with a 3 CandleStick Pattern (Bearish Engulfing Pattern) in which could possibly indicate further downside potential.
The H4 on the other hand is Ranged in Structure as PA is Trading at a Level of DTF Resistance. a Change in sentiment on the LTF would require the H4 to Break Structure in which could possibly push for a DTF LH.
PA right now is indicative of an Inverse H&S to allow for the High probability of a DTF LH push. with the H4 PA tapping into an Area of Demand, and if the H4 Inverse H&S is to be completed, we could see PA first create a DTF LH for a Continuation to the Downside or price might continue to fall given the current Economic Sentiment which is Bearish in nature
Be mindful of the coming days in which money is flowing into the DXY as a safe haven, and Stocks this moment is being heavily affected due to the current Geo-Political Instability and War in Europe
From an MTF perspective, it is indicative an MTF_CHOCH which is indicative of a Bearish sentiment at play. From an HTF point of view, more downside potential is Probable.
With a closure below the WTF_Swing_Range, or Range_Low, confirmation that PA is still Bearish in nature. With WTF_LL, Wick_Low, breached below, with no other PA not trading below and closing below the Wick, and as a result, DTF/ H4 staged a Pullback on an LTF.
Week of 28/02 - 04/03 Candlestick closed as a Bearish Indecision Candle (Inside Bar), High Probability of PA to have a deeper Pullback if Bearish sentiment is to remain in the Short-Term.
DTF is Ranged in Structure, with PA Trading as Resistance/ Retest of H&S. PA is trading at a Level of Resistance. have completed the H&S Charting Pattern.
one thing to take note of is the closure of the week with it closing with a 3 CandleStick Pattern (Bearish Engulfing Pattern) in which could possibly indicate further downside potential.
The H4 on the other hand is Ranged in Structure as PA is Trading at a Level of DTF Resistance. a Change in sentiment on the LTF would require the H4 to Break Structure in which could possibly push for a DTF LH.
PA right now is indicative of an Inverse H&S to allow for the High probability of a DTF LH push. with the H4 PA tapping into an Area of Demand, and if the H4 Inverse H&S is to be completed, we could see PA first create a DTF LH for a Continuation to the Downside or price might continue to fall given the current Economic Sentiment which is Bearish in nature
Be mindful of the coming days in which money is flowing into the DXY as a safe haven, and Stocks this moment is being heavily affected due to the current Geo-Political Instability and War in Europe
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