US30 - Weekly reviewHello Traders!
Hope this week was a profitable one.
US30 had a rather bearish week - we can see that after last weeks low was broken. Market gave us clear direction for sellside to be taken out.
Yellow lines are showing us previous areas of where sellside liquidity could be.
I expect the bearish momentum to continue however we must also anticipate corrections before the real move happens.
Today is Friday naturally we notice reversals to the current trend for the week. Traps and sweeps will be on the agenda ;)
i will be watching price from 34765 to 34745 for entry zone
REMEMBER this is not confirmation but merely anticipation.
Follow your rules ;)
Sweeps
Bitcoin - next week game planMy game plan going into next week on Bitcoin ($BTC).
Notes on chart - leaning toward at least a sweep of current range low / liquidity to take out a bunch of stops at 22.4k.
Lose current range, prior consolidation area is up next at 20k. From there will continue to evaluate if we come back down to macro lows, but expecting a bounce from either of these 2 specific locations if we are going to push higher at all.
UNLESS 23.5k is reclaimed soon, invalid in that case.
Happy Sunday folks.
$CL - Crude's Range & Downside TargetsCrude oil has been unable to breach the supply region established in March 2022 in the $120+ range.
It's also having a hard time establishing ground above the 2011-2014 supply zone - price action above seems distributive with selloffs underneath carrying significant weight.
That said, given the macro climate it's unlikely crude breaks down from this range for an extended amount of time , we are targeting a re-test & sweep of the lows to cap downside - no lower than $90-$92 region.
OptionsSwing Analyst
Will Nozick