Fri - On the weekly chart, we are in a consolidation range. The pair could become interesting if we break the consolidation above, with a clear target.
On the daily, it is still too early. The last leg is bullish and we are potentially starting a new leg. For the moment we just follow the price action: are we going to create a new bullish leg? Do we first retrace...
The development on the 4H time frame suggests that price would like to retrace to the D FVA before continuing higher. However, we do not want to get involved in shorts yet. We just observe the retracement.
A good reaction from the FVA could give us a nice entry to continue higher.
Tue - 7am NY.
Monthly: Expansion candle, clear target low.
Weekly: Expansion candle. We are exiting a consolidation area. We want confirmation that we are running the low and not sweeping it.
Daily: the point of interest is the Previous Candle's Low, because the candle didn't close below the taken low. After the PL there is no resistance before the...
Wed - Monitoring the FVA reaction. The last swing high on the D is the last line of defence of the bearish FVG. If we run that high, there is no resistance left and we enter an area of opportunity.
Monitoring on the 4H and 1H early signs of respect of the FVA.
Wed - Good rejection from D FVG and no other resistance.
Good structure formation on the 4H chart. We wait for candle to close above previous candle's body and disrespect the last resistance point. Area of high probability sits above.
