Price breaks consolidation lows, but shorts remain on hold.
Market Context:
- Monday closed below the last three days of consolidation, signaling potential downside.
- No short entries taken yet as price hasn’t reached our POI at 2935-2940.
- Price retraced to 50 percent levels on both 4H and Daily, sitting in discount, not an ideal short zone.
- Major news events this week:
- CPI on Wednesday
- PPI on Thursday
- Expect deceptive price action leading into the releases.
Current Plan:
- Tracking a Market Maker Sell Model on 15M.
- Watching for a 3.5 - 4 range expansion from initial consolidation, aligning with our short POI at 2935-2940 (see attached TradingView chart).
- If price breaches 2930, we look for weakness at 2935-2940 for shorts.
- Short target is the previous daily low at 2830.
What’s Next:
- No trades until price reaches our POI. Avoiding trades in the middle of the range.
- Staying cautious of pre-news manipulation. CPI and PPI could trigger fake moves before a real breakout.
- Waiting for a clean setup. If structure shifts, we adapt.
Key Reflection:
How does waiting for price to trade into a high-probability zone improve execution and reduce unnecessary risk?
Trade with clarity and control. Hand-drawn charts keep you calm and focused. Join the PipsnPaper community today.
Market Context:
- Monday closed below the last three days of consolidation, signaling potential downside.
- No short entries taken yet as price hasn’t reached our POI at 2935-2940.
- Price retraced to 50 percent levels on both 4H and Daily, sitting in discount, not an ideal short zone.
- Major news events this week:
- CPI on Wednesday
- PPI on Thursday
- Expect deceptive price action leading into the releases.
Current Plan:
- Tracking a Market Maker Sell Model on 15M.
- Watching for a 3.5 - 4 range expansion from initial consolidation, aligning with our short POI at 2935-2940 (see attached TradingView chart).
- If price breaches 2930, we look for weakness at 2935-2940 for shorts.
- Short target is the previous daily low at 2830.
What’s Next:
- No trades until price reaches our POI. Avoiding trades in the middle of the range.
- Staying cautious of pre-news manipulation. CPI and PPI could trigger fake moves before a real breakout.
- Waiting for a clean setup. If structure shifts, we adapt.
Key Reflection:
How does waiting for price to trade into a high-probability zone improve execution and reduce unnecessary risk?
Trade with clarity and control. Hand-drawn charts keep you calm and focused. Join the PipsnPaper community today.
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.
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.