Wall street performed what we call AMD. We have price create weekly range (Accumulation). We had price spike below zone with failure to close and reversing to break Structure with momentum candle. An order block was formed along with some imbalance upon close of 3rd candle.
We might anticipate this buy setup because of the CPI data release. Remember that NFP WAS NEGATIVE FOR THE DOLLAR IN APRIL. Upon analysis of market structure of Us30. The above high is actually a swing target from the last demand mitigation more than it being a good trading zone. IT IS WHAT WE CALL EXTERNAL LIQUIDITY.
Our 1st target is the high of range. 2nd is the fvg on 4hr before suply zone. And the last one is the last swing high of the price. Goodluck
We might anticipate this buy setup because of the CPI data release. Remember that NFP WAS NEGATIVE FOR THE DOLLAR IN APRIL. Upon analysis of market structure of Us30. The above high is actually a swing target from the last demand mitigation more than it being a good trading zone. IT IS WHAT WE CALL EXTERNAL LIQUIDITY.
Our 1st target is the high of range. 2nd is the fvg on 4hr before suply zone. And the last one is the last swing high of the price. Goodluck