The market went and took liquidity on Thursday going into Friday the market reversed and changed character. We should monitor price as it retraces back into a huge buy zone (last down close candle). There is a lot of noise and no clear sense of direction on the 4H chart even though we did see a change of character. Whenever I see a clear change of character, I switch bias and sit aside until price reaches my areas of interest and based on price delivery on the lower time frames (5-minute period) specifically I execute.
Daily chart
Looking at the daily chart it is clear that price is in an uptrend and we should be expanding as the corrective leg seems to have finished.
Daily chart
Looking at the daily chart it is clear that price is in an uptrend and we should be expanding as the corrective leg seems to have finished.
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Related publications
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.