US30/USD Longs from 36600.0 back upUS30 doesn't currently capture my interest due to significant ranging and the build up of liquidity, awaiting a breakout. Once the breakout occurs, whether to the upside or downside, opportunities can be seized. Given the overall bullish sentiment, the demand zone for potential buys holds more appeal. I'll await a downside breakout, fill the imbalance, and then address my 4hr demand zone.
In case price breaks higher, establishing new highs, I'll look for a fresh demand level for buying opportunities. Alternatively, if the price breaks down and undergoes a character change, it may create a supply zone for potential short-term sells.
Confluneces for US30/USD Buys are as follows:
- Price is ranging a building liquidity due for a breakout and to eventually react off a zone.
- A demand zone below triggered a break of structure to the upside.
- The market trend is longterm bullish, aligning with this idea.
- Imbalance above the demand signals favourable reaction at my POI.
- lots of liquidity above, including trend lines and untouched Asian highs.
- Price needs to dip to a significant demand level for an upward rally to persist.
P.S. I'm currently holding off on immediate trades, waiting for price to initiate a breakout. The market appears to be in a consolidation phase, and I'll only consider entering trades once price establishes a clear direction to sweep liquidity.
Have a great trading week ahead everyone!
