This week’s focus is on the continuation of the bullish trend, with the main opportunity being a retracement back down into the recent demand zone left behind. From there, I’ll be looking for signs of a Wyckoff distribution to confirm an entry.
If price decides to push higher without retracing, I’ll instead look for a Wyckoff accumulation to form near the 5H supply zone that I’ve marked above current price.
Confluences for GU Buys:
- Recent break of structure to the upside confirms bullish intent.
- DXY has been bearish, supporting a bullish GU outlook.
- A retracement would allow price to re-distribute near the 5H demand zone.
- Clear liquidity above that still needs to be taken.
P.S. If price breaks structure to the downside, it could form a new supply zone — giving earlier sell opportunities. But if nothing confirms, then staying patient and waiting on our hands is also a valid option.
If price decides to push higher without retracing, I’ll instead look for a Wyckoff accumulation to form near the 5H supply zone that I’ve marked above current price.
Confluences for GU Buys:
- Recent break of structure to the upside confirms bullish intent.
- DXY has been bearish, supporting a bullish GU outlook.
- A retracement would allow price to re-distribute near the 5H demand zone.
- Clear liquidity above that still needs to be taken.
P.S. If price breaks structure to the downside, it could form a new supply zone — giving earlier sell opportunities. But if nothing confirms, then staying patient and waiting on our hands is also a valid option.
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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.
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.