October did not sweep either of the previous month’s extremes, leaving liquidity on both sides untouched.
To me, whether we reach the yearly open now comes down to timing, with only two months left in the year.
I’m leaning toward a one-sided sweep in November, favoring a sweep of October’s high. That’s why my stop is at October’s low.
If November sweeps October’s low instead, $75K comes into view. In that scenario, I think we’re less likely to see October’s high taken during November and more likely to see choppy price action between $75K and $85K throughout the month.
October’s low could also become the previous week’s low once the current weekly candle closes in five hours. Based on the 12H confirmation, I expect that level to hold into the weekly close.
I’d really like to see this week close above the weekly 50 and 100 EMAs to strengthen the outlook for the upcoming week.
If we get a retest, I want to see the daily 200 EMA act as support while October’s low remains untouched.
The upcoming week will be decisive for my outlook: either we sweep the previous week’s high and reclaim $82K, or we sweep its low, which also aligns with October’s low, opening the door to new lows and potentially choppy price action for the rest of November.
Also keeping in mind that the H4 and daily market structures remain intact and bullish.
To me, whether we reach the yearly open now comes down to timing, with only two months left in the year.
I’m leaning toward a one-sided sweep in November, favoring a sweep of October’s high. That’s why my stop is at October’s low.
If November sweeps October’s low instead, $75K comes into view. In that scenario, I think we’re less likely to see October’s high taken during November and more likely to see choppy price action between $75K and $85K throughout the month.
October’s low could also become the previous week’s low once the current weekly candle closes in five hours. Based on the 12H confirmation, I expect that level to hold into the weekly close.
I’d really like to see this week close above the weekly 50 and 100 EMAs to strengthen the outlook for the upcoming week.
If we get a retest, I want to see the daily 200 EMA act as support while October’s low remains untouched.
The upcoming week will be decisive for my outlook: either we sweep the previous week’s high and reclaim $82K, or we sweep its low, which also aligns with October’s low, opening the door to new lows and potentially choppy price action for the rest of November.
Also keeping in mind that the H4 and daily market structures remain intact and bullish.
Trade chiuso manualmente
High probable to sweep prev month low here, watching here below 75K Otherwise reclaim of 80K
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Declinazione di responsabilità
Le informazioni e le pubblicazioni non sono intese come, e non costituiscono, consulenza o raccomandazioni finanziarie, di investimento, di trading o di altro tipo fornite o approvate da TradingView. Per ulteriori informazioni, consultare i Termini di utilizzo.