Good morning everyone !
Welcome to Tuesday, during yesterday & today we've observed our plan play out, mostly looking at a retest of that trendline + the 23 Fibonacci retracement, the 23 was the one that made sense the most to me due to the liquidity we saw just to the left, which I've outlined with the white line.
What I'm seeing with this is obvious, with my next step being the move back down to our Demand Level at 11250. This has been a decent recovery so far & I think it'll be hard to push it back up to that 12.3k level for a second test ultimately.
I do believe that 12.3k was the major swing level that it was shooting for, hence why I left that level in for so long, it made sense, from a 1D S&D perspective.
We'll see if we continue down from here, need another few red candles to confirm however. For those using Ichimoku, all settings that I have observed have had a bearish Kumo twist, if you'd like to check that out for yourself.
Have a great day!
Welcome to Tuesday, during yesterday & today we've observed our plan play out, mostly looking at a retest of that trendline + the 23 Fibonacci retracement, the 23 was the one that made sense the most to me due to the liquidity we saw just to the left, which I've outlined with the white line.
What I'm seeing with this is obvious, with my next step being the move back down to our Demand Level at 11250. This has been a decent recovery so far & I think it'll be hard to push it back up to that 12.3k level for a second test ultimately.
I do believe that 12.3k was the major swing level that it was shooting for, hence why I left that level in for so long, it made sense, from a 1D S&D perspective.
We'll see if we continue down from here, need another few red candles to confirm however. For those using Ichimoku, all settings that I have observed have had a bearish Kumo twist, if you'd like to check that out for yourself.
Have a great day!
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.