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Price is trading into bearish resistance after London expanded. Watch for a liquidity sweep of the lows on the 5-minute chart that could fill a gap and push higher. Wait for a retrace into the CISD before entering for a stronger bounce.
Price is trading into bearish resistance after London expanded. Watch for a liquidity sweep of the lows on the 5-minute chart that could fill a gap and push higher. Wait for a retrace into the CISD before entering for a stronger bounce.
I'm sure that you don't have much more than that. So yeah, if you sweep out these lows here on the five minute chart, you would fill in that photo gap and potentially go higher. Personally, I'm probably going to take today very cautiously because the we have had a pretty big expansion just during the London session and again, you are in this bearish resistance level right now. Ideally you want to focus your trades on when price actually retraces back into the CISD and then the bounce is going to be very strong. So far, again, you're trading into resistance. So there is a potential that you could just spend today reversing as well as tomorrow. So potentially Monday, Tuesday, Wednesday, Thursday, Friday kind of situation could be how this week plays out.
