$SQ Tech idea :
Summary : $SQ to me is in the "Wave 5" of a downward "Bearish Impulse" and now we are in a
"Weekly demand (White Zone)" after just breaking from our 1st now filled "Weekly demand (Green)".
But to me the reason $SQ is slicing through is because (Bears) have the
overall edge "Supply wise and Trend wise" as we have
"3 week supply" which is a HTF (3 Week Supply > Weekly Demand) and
greater than our "Weekly Demand" which
is driving the market down.
So to get to it unless this "Fomc" brings us back up i can see $SQ possibly going for
"Sell Side Liquidity (Green Trend Line)" at this rate if "Fomc" and other events this week
fail to pickup the market .
Summary : $SQ to me is in the "Wave 5" of a downward "Bearish Impulse" and now we are in a
"Weekly demand (White Zone)" after just breaking from our 1st now filled "Weekly demand (Green)".
But to me the reason $SQ is slicing through is because (Bears) have the
overall edge "Supply wise and Trend wise" as we have
"3 week supply" which is a HTF (3 Week Supply > Weekly Demand) and
greater than our "Weekly Demand" which
is driving the market down.
So to get to it unless this "Fomc" brings us back up i can see $SQ possibly going for
"Sell Side Liquidity (Green Trend Line)" at this rate if "Fomc" and other events this week
fail to pickup the market .