- Daily timeframe [long term timeframe]
We just broke bullish structure so a pullback is in the horizon. This means a little bit of bearish price action in the meantime. Will it be into discount? I don’t know we have a huge imbalance that will try to act as support
• Bullish bias
- Four-hour timeframe [medium term timeframe]
We’ve seen a bearish break of structure, confirming the imminent daily pullback. The market strong rejected the supply zone responsible for this break of structure. An immediate target is the four-hour weak low.
• Bearish bias
- 15-minute timeframe [short term timeframe]
This timeframe’s structure has aligned with the four-hour timeframe bearish structure, further boosting the confidence that the market may want to correct.
• Bearish bias
How do I come to a bias conclusion?
I look at the swing structure; if it is bearish, I conclude a bearish bias [vice versa]
©Austin Palmer for FONOS Fx, 2024.
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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.