The US-Dollar Index has aligned itself for long-term Bullishness (Risk OFF).
If the DXY goes higher, all other markets will get pressured lower as a result of that (Forex, Indices, Treasury Bonds, Crypto & Commodities)...
Monthly Timeframe:
Price is respecting the BISI + Discount OB. I like how the wicks tested the BISI and OB by leaving wicks in them, but the bodies of the candles closed outside. That's usually a great indication for a run higher.
As a first target, I'm aiming for the Monthly SIBI. Does price break through it to the upside, BSL priced at 114.800 is the next target. If price breaks through that, I'm aiming for a run above the BSL into 124.000.
Important: If price goes Lower instead, and a Monthly candle Closes Below the BISI (see the image below), we should get a clean run lower to SSL at 88.250. But as long as price remains closed above the BISI, I'm Bullish.
Weekly Timeframe:
Price ran out SSL, and we can further expect a move higher. Orderflow has also shifted bullishly as price traded through a Bearish Orderblock to the upside. We should now see every OB and FVG get supported in the trend higher.
Weekly SIBI in sight on the weekly timeframe.
Daily Timeframe:
Price is currently in a Market Maker Buy Model. The MMBM is completed if price reaches the BSL high at 114.800. Each re-distribution should get mitigated with an accumulation to the upside.
Also see that as price swept the SSL, price created a market shift to the upside and rebalanced the BISI, and continued running higher from there.
The BSL High is a LRLR, Low Resistance Liquidity Run. It's easier for price to take these levels out, and the runs toward these levels are usually met with cleaner runs with less retracements to the opposing direction.
This is my speculation. It is not financial advice. Do your own research and analysis before engaging the market.
Ordine annullato:
(Refer to my "Weekly Timeframe" Chart analysis).
I wanted to see the wick get traded through. IF it were to do that, I would be Bullish from there on.
However, the market failed to close above the wick, and orderflow is not yet Bullish.
Therefore, I'm neutrally biased until further notice.
I wanted to see the wick get traded through. IF it were to do that, I would be Bullish from there on.
However, the market failed to close above the wick, and orderflow is not yet Bullish.
Therefore, I'm neutrally biased until further notice.