GJ has recently made a important change of structure on the HTF with a massive weekly lower low and bearish impulse - this move has been followed with a correction as we would expect the corrective wave is currently bouncing of the 0.618. My HTF bias is bearish and i am expecting a rollover today.
This afternoon inflation data will be printed - if it comes in as expected or higher risk assets will dive. On the LTF GJ is consolidating below resistance in the form of this wedge , there is liquidity to the upside that i would like to see removed first. If we see a break to the upside and the early short sellers liquidity removed the breakout will also induce retail into long position, this is my confirmations to look for an entry off the zone of confluence identified.
This afternoon inflation data will be printed - if it comes in as expected or higher risk assets will dive. On the LTF GJ is consolidating below resistance in the form of this wedge , there is liquidity to the upside that i would like to see removed first. If we see a break to the upside and the early short sellers liquidity removed the breakout will also induce retail into long position, this is my confirmations to look for an entry off the zone of confluence identified.
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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.