Selling inside of the previous day premium area. Looking to take out 11am sell side liquidity. Price already showing signs of weakness and looking to trap impatient sellers.
HTF bearish bias
Liquidity sweep and BOS on 4H
Previous daily candle formed a lower low
Liquidity sweep and bearish pressure on LTF to potentially mark the end of retracement cycle
- Weekly downtrend with a rejection of the trend line and a printed demand zone on Mar. 27
- Red dots are what seems to me as a A-B-C correction
- Lower time frame demand zone (green box) printed in the higher time frame support/resistance zone (white box)
- Lower time frame head and shoulders printed
- If uptrend momentum holds, I think we will see at least...
- Price currently in the daily demand zone
- Weekly trendline rejection
- 1H trendline break & retest to form head and shoulder pattern
- Price respecting 1H demand zones inside of daily demand zone
- Buy potential
Currently in a short term buy position. See previous post for details. I expect price to reach 110.15 which falls in a major supply zone. From this point, I expect price to continue in the weekly and monthly downtrend. Nice risk to reward opportunity. I will update if and when we get to target sell price.
