Price is currently in a downtrend on multiple timeframes and has started retracing from the last low it made. It has left a big imbalance in price and this could be a decent area to look for an entry. Ideally an entry slightly above the imbalance from the 4h OB. The entry area also aligns almost perfectly with the 0.88 fib level, which is an additional confluence....
Looking for a secondary retracement to the 70.5% Fib Level to secure the sell side liquidity for a push up to fill the IPA at the 153.800 Level on the Daily TF. Alerts set now we wait slightly wider SL of 50 pips on this one to get a better structure point.
Looking for a secondary retracement on GJ into the 61.8 to the 70.50% zones to secure the liquidity for a rally upwards to fill the IPA and also collect the sell side liquidity from the POC above.
IPA being filled and a retracement into the 70.5% zone want to get a rejection from this level. Then clear out the buyers liquidity below and continue on with the trend.
Distribution schematic seen on the lower timeframes POC is at 1795 and The initial 50% of the first IPA is at 1836. I will look for a jump up to the smaller fib and a secondary test of the level to try get an entry if I don't see this i'll let the trade go and see how the idea would have played out.
IPA at a lower area of price as well as a distribution schematic coming up for the LPS before a downside move.
I see a 4HR IPA which requires filling at the 1798 level We have just tapped into the previous OB at 1831 to 1834 so I expect rejection from this level and a retracement to fill this IPA and collect LQ for the next wave upwards after the Institutional levels are tapped into on the Fib.
IPA is the latest retail banger this week after NURO and CEMI took center stage during the first half. I took out the fibs back to the previous lows and plotted against the ATH. Interesting levels formed which showed pivot support/resistance at the 786 fib line and the 618 maintaining a secondary level of importance. After failing to break and hold above it,...
I'm personally hoping to see, with DXY giving a potential for a short term sell-to-buy, that GU can go as far enough to take out those LR wicks, creating a UTA -as price wicked the whole body of the previous UT, one could say it broke PRICE structure, but since it didn't wick ABOVE the wicks which formed the UT, I'm waiting to see if price will cover that UT; as...
Confrimations - Structure - Time - Imbalance - Instituonal Area
Look for an rejection or engulfing candle in the area of our entry or place a buy limit.
This pair on lower tf has been trending down and finally tool out liquidity and we got a sharp move to the upside after leaving an imbalance. Expecting a pullback to the green(buy) zone to fill up imbalance and project about a 450 pips bullish run to completion od shark harmonoc pattern.