There's strong downward momentum observed on the HTF, with price forming a double top followed by a downward move. Currently, there's a consolidation phase just through the previous swing low. I'm awaiting further confirmation before considering my next move.
Given the potential inflection point at hand, it's crucial to wait for clear confirmation signals. I'm specifically looking for a more structured consolidation bear-flag pattern on the hourly timeframe (H1) before setting my EO.
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Glossary:
VA – Value Area
Liq.P – Liquidity Point
BO – Break-Out
EO – Entry Order
H1 – Hourly Time-frame
M15 – 15min Time-frame
LTF – Lower Time-frame
HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest
Magenta rectangle – Gap / Area of Significance
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Given the potential inflection point at hand, it's crucial to wait for clear confirmation signals. I'm specifically looking for a more structured consolidation bear-flag pattern on the hourly timeframe (H1) before setting my EO.
***********
Glossary:
VA – Value Area
Liq.P – Liquidity Point
BO – Break-Out
EO – Entry Order
H1 – Hourly Time-frame
M15 – 15min Time-frame
LTF – Lower Time-frame
HTF – Higher Time-frame
Magenta horizontal Ray – Area of Interest
Magenta rectangle – Gap / Area of Significance
***********