Hey Guys,
Not mid-week but just a quick one that I would like to update you guys on.
4H TIMEFRAME
We’ve seen a break in structure and the big boys left a footprint behind in the form of an order block. We saw price retrace back towards the fair value gap and reversed back down just before NYSE OPEN, not only was that the imbalance area it was also the optimal trade entry zone but there are still parts missing for the market to continue lower, we have an untested broken structure and there are large orders that may still hang around the order block.
So, what is my stance then? FOMC is coming up and as I said in my previous analysis (which I will link below) whatever they decide we still have the dark cloud of a broader market correction over our heads. So, when you do buy, do so with caution and optimal risk.
On the 30-minute timeframe we’ve seen price create an intent to go higher with the break of structure, but we have not yet seen a fully developed price cycle for a bullish trend (low, high, higher low.) so this is a time in the market where the direction even on the smaller timeframes is difficult to anticipate and this may be intentional as we await the FOMC press conference.
Happy Trading, do me solid drop a comment & like the ideas I post. Follow me for more.
Not mid-week but just a quick one that I would like to update you guys on.
4H TIMEFRAME
We’ve seen a break in structure and the big boys left a footprint behind in the form of an order block. We saw price retrace back towards the fair value gap and reversed back down just before NYSE OPEN, not only was that the imbalance area it was also the optimal trade entry zone but there are still parts missing for the market to continue lower, we have an untested broken structure and there are large orders that may still hang around the order block.
So, what is my stance then? FOMC is coming up and as I said in my previous analysis (which I will link below) whatever they decide we still have the dark cloud of a broader market correction over our heads. So, when you do buy, do so with caution and optimal risk.
On the 30-minute timeframe we’ve seen price create an intent to go higher with the break of structure, but we have not yet seen a fully developed price cycle for a bullish trend (low, high, higher low.) so this is a time in the market where the direction even on the smaller timeframes is difficult to anticipate and this may be intentional as we await the FOMC press conference.
Happy Trading, do me solid drop a comment & like the ideas I post. Follow me for more.
