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I believe DXY will be Bearish because it has already filled in the price imbalance and now will be targeting the lows at 101.297. Lets continue to watch what price does over the next couple of days.
We will be doing a top down analysis starting with the Daily chart.
Daily:
-Price will rebalance the price imbalance and then ultimately reach into the lows at 11491.25 level.
-Overall bias will be bearish and now lets go into a lower time frame to see if we can get more clarification and see if we can possible get a sell entry.
1h:
-If we take the swing...
Higher time frame bias is Bullish because for 2 reasons:
1. DXY has already filled in an imbalance high and should trade down to take out the low @101.297
2. NQM has already traded down into the imbalance but not filling it. Market should take out the previous day high resting @12797.00
Then we will look for the essentials in order for us to enter:
-Raid on...
We have a Bullish higher time frame bias in mind and have a draw on liquidity at the 12945.25 price level. We are currently looking for a buy setup and are waiting to see what London session will give us. We will look back at the chart and get ready to hunt for a setup after 8:30am EST
Overall bias is Bearish which was derived from the higher time frame chart. Looking for the market to take out buyside liquidity and then show big displacement down taking out a short term low indicating a Bearish Market Structure Shift. Entry would be on the retracement into the price imbalance. Lets follow price along to see what happens and pay attention to...
