On the weekly chart, the price has formed a new trading range. We mark it out and move down to the daily timeframe.
After the correction, the price reacted from an inefficiency zone, showing buyer interest.
At the moment, I’m considering two bullish scenarios:
1️⃣ An impulsive breakout of the daily FVG zone followed by an expansion of the current range.
2️⃣ A reaction from the FVG zone, then a sweep of Friday’s low, after which the price could resume its upward movement.
I see the second scenario as more likely, as it would allow the market to collect liquidity before continuing higher.
After the correction, the price reacted from an inefficiency zone, showing buyer interest.
At the moment, I’m considering two bullish scenarios:
1️⃣ An impulsive breakout of the daily FVG zone followed by an expansion of the current range.
2️⃣ A reaction from the FVG zone, then a sweep of Friday’s low, after which the price could resume its upward movement.
I see the second scenario as more likely, as it would allow the market to collect liquidity before continuing higher.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.