38k tagged, I have a bearish outlook on BTC. Break out of the range and then return into internal range liquidity. I'll see to buy back at the lows. Will it work? We'll see.
We've had a large range expansion we're retracing into, FOREXCOM:GBPUSD is to offer repricing below 1.21839
Liquidity is resting below 1.21898, the market is trending down. We might face a short temporary retracement, I don't expect price to reverse yet as the DXY is heavy on buy side.
Retracement after taking new highs, might see an expansion move upwards now.
Fiber is rallying up for buyside, we have a weekly gap acting as my main interest.
Eurodollar looking bullish, DXY bearish which is a good confluence to trust this bias for me. Waiting to see higher levels.
High impact news 8:30 - Anticipate volatility We can see these EQ highs above FVG swept in a fake run so care for stoploss. My bias for the day remains bearish. Target is 11078.3
We're inside a weekly OTE, and inside a daily OTE + bearish market structure according to the latest price run. My target would be the 3722.2 liquidity pool.
I've been looking at that imbalance this week, and now that it has been filled I'm going bearish for Gold. I believe we can treat this as a resistance. I'm anticipating the 1703.87 low taken out first. Then completing the run for 1693.80 We're also around a high for the DXY and we've been taking out consecutive highs there. I'm using this as a hint for Gold.
Before anything else, I am expecting a run into the 1.00902 level going forward. Why? It's the closest liquidity pool and the only long term high, Which means I am also expecting the DXY to trade lower. On the DXY chart. We see equal lows. This acts as further confirmation for me. Good luck and good trading.