HTF Analysis - Fulltime selling continuation has been show in this Market. Price respects HTF Highs and keep taking out sell side Liquidation areas.
Daily TF - Technical Indicators being MacD/EMA x2 (50,200 Lengths) showing us selling pressure is still in course. MacD smoothing lines are below 0 Line and price is still staying under the EMA lines. I would be...
HTF Analysis shows us we are in a Strong Bullish movement, we are still creating highs and making large pushes off the 4H Demand zones as show in previous movements similar to the movement I caught prior.
Price has given us a piece of Imbalance to fill and as suspected price is slowly retracing towards that Imbalance.
Measuring that movement made with Fibonacci...
High Probability Setup for a Long Position (In my opinion)
Currently we have been in a solid Bearish Trend since Christmas, price has been forming Lower Lows suggesting Sell positions have been preferred.
On the HTF we see we are currently Bullish and that price is actually currently in a Long Term Pullback stage. To back this statement up at the end of November...
Long for potential long positions at 2.1600.
Why?.. At this Phycological level we can see previously that we have had large buying pressure added at this level. To support this we can see multiple Imbalances left after price sky rocketed.
Currently price is falling will multiple market jumps insinuating the continuation of Bearish movements for the next few...
After CPI even yesterday making a valid pullback we will be looking to take Buy Side Liquidity.
MacD is supporting our entry along side with staying above both EMA's and staying Bullish on the HTF
For my entry Im looking to enter from this Mitigation Block sitting at this Demand zone.
To confirm this entry we will be looking to fill this imbalance....
