It's weekend and we are all looking forward to what might happen next week.
Here's what I can deduce from the chart.
Break of external market structure higher high, price proceeds to 50k region and reacts to the OB therefore causing a sudden drop in price.
I have marked out a (not really outstanding/obvious) higher low on the chart, that price broke through aggressively, went to the 42k region and rejected: price is currently around the structure it broke.
Here's what I think:
- Weekly close above the HL broken might result to a bullish continuation.
- A close below the 45250 region might send price to an obvious support on the daily or even as low as the external MS.HH region for a retest.
Here's what I can deduce from the chart.
Break of external market structure higher high, price proceeds to 50k region and reacts to the OB therefore causing a sudden drop in price.
I have marked out a (not really outstanding/obvious) higher low on the chart, that price broke through aggressively, went to the 42k region and rejected: price is currently around the structure it broke.
Here's what I think:
- Weekly close above the HL broken might result to a bullish continuation.
- A close below the 45250 region might send price to an obvious support on the daily or even as low as the external MS.HH region for a retest.
In addition, these are marking on my chart on the daily. Price didn't get to OB o the daily but it respected the FVG we didn't see on the weekly. I have also marked out my support regions. You could adjust them to fit them on your charts.
I am human and I can be wrong. Therefore, anything I have said is not financial advice. Use at your own risk.