XMR - MMSM - 31.05.22 - Daily SFP around Supply Block -
Updated
Long-Term Perspective [Daily]:
narrative:
Price is retesting a daily supply block and created a swing failure pattern with yesterdays monday candle. I assume Resistance to hold until proven otherwise.
Instead of blindly shorting this market I will wait for certain price trigger to get into the trade.
Draw on Liquidity (DOL):
- upside Liquidity is taken
- downside FVG around 188$
Intermediate Perspective [hourly]:
notes on the chart below
narrative:
Price is retesting a daily supply block and created a swing failure pattern with yesterdays monday candle. I assume Resistance to hold until proven otherwise.
Instead of blindly shorting this market I will wait for certain price trigger to get into the trade.
Draw on Liquidity (DOL):
- upside Liquidity is taken
- downside FVG around 188$
Intermediate Perspective [hourly]:
notes on the chart below
Note
hourly shows a clean MMXM Set up building up.
What I want to see from here is either 1. a Sweep to the upside followed by a msb or 2. msb down creating a fvg where i try to enter on a retest.
The objective is 188$ based on the DOL
M15
Note
extended target is 178$-172$ based on the hourly FVG and unmitigated POI.Only question rn is what kind of distribution builds up the next hours.
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.