Hello and welcome to the weekly Top-Down analysis.
Throughout the past week, we experienced a sideways movement without a clearly defined trend. Despite this, there were an adequate number of potential positions.
1D - Daily timeframe: We continue to operate within the bounds of the daily imbalance. On Friday, January 5th, we cleared all the liquidity formed below, and I did not expect a repeat of the re-sweep, as mentioned in the previous review. The most obvious target was the local fractal high, which we managed to clear on Thursday. Despite the aggressive movement at the end of the year, we still remain in a long context until the daily bar closes below 1.071. For the upcoming week, I would like to see the removal of the nearest lower fractal with a continuation of the movement towards the upper boundaries of the sideways range.
Throughout the past week, we experienced a sideways movement without a clearly defined trend. Despite this, there were an adequate number of potential positions.
1D - Daily timeframe: We continue to operate within the bounds of the daily imbalance. On Friday, January 5th, we cleared all the liquidity formed below, and I did not expect a repeat of the re-sweep, as mentioned in the previous review. The most obvious target was the local fractal high, which we managed to clear on Thursday. Despite the aggressive movement at the end of the year, we still remain in a long context until the daily bar closes below 1.071. For the upcoming week, I would like to see the removal of the nearest lower fractal with a continuation of the movement towards the upper boundaries of the sideways range.