PRICE: We clearly see price return to an area of supply after breaking structure.
CORRELATION: EU does not take out last year's high whereas GU broke the previous year's high
TIME: We are within the Q2 of the Quadranil cycle of Trader Daye's Quaterly Theory which is mostly forms the judas swing. The crack in correlation with GU forms manipulation
DXY is currently in a weekly supply zone which could see an end to the dollar bullishness as CPI turned out quit bearish for the dollar. However fundamental outlook for other currencies could also play a role in the next direction for the Dollar Index
Lower timeframe has seen a nice sell off on EU but a key Weekly demand zone is in bound. Possible continuation of the downtrend after a minor pullback from this zone or a clear bullish market back in bound should there be a shift in lower timeframe market structure
Following the structure. There is already a weekly break of structure on weekly and a bearish market trying to mitigate the weekly POI. we could see this bearishness evident till the POI is mitigated. Then we can be more certain that market could clear imbalances above. That is if the economies will support that looking towards their fundamentals
So far, there has been series of interesting market structures printed on GBPJPY without a clear sense of direction. however, right now by far, there seems to be a definitive possibility of price trending higher to around 165.20
A 2H trading range marked out as price creates and effective mitigation of a demand zone, Choch already in line to play out as M15 looks sharp in the bulls favor. Order blocks marked out but still susceptible to liquidity grab but bias is confirmed with a break of 1.01935
Could we still see a continuation of the bearish sentimet of USDCAD?
With possible recession questions asked within the US and a reported strength in the Canadian economy, anything is possible.
However, from structural bais, trend has been bearish with successive BOS of demand zones, could a possible entry be taken then?
Several important price structure has been printed so far on the EURCAD. Lots of trades taken with some profits and losses. But if asked where is priced headed next, do you thin there is enough structure printed yet for directional bias and a trade execution?
Judging from the daily perspective, there's every reason that the bearishness could still continue since...
If M15 POI gets mitigated, a possible play of liquidity grab could be observed, taking out early sellers and using that liquidity as fuel to hit the sell run
Overall Bitcoin trend still looks bearish with no structural break to signify a possible bullish move. However there are slight cases of short term bullishness signified on hourly timeframe one could capitalize on. Bitcoin could trade 22 then see a plunge to 20K being a good demand zone for price to go higher. A bullish ove from this zone to 24K and 30K is...
A series of broken structures have yet presented a possible trading zone on the USDCAD. Close watch of price action and further printing of structures will help us determine which direction the market is headed to first.
A little disclaimer also about these marked our supply and demand zones is that they are not absolutes. They are only marked out using...
Change in character in USDCAD to see a possible continuation of trend after a pullback. However POI could only be a reaction to see price drive lower but a mere 20R is still a possibility should price hit our entry
