Daily trend = Downtrend
4H shows a corrective leg which has started reversing from the 78.6% retracement level.
Before pushing to the 0.786 fib level, a double top was formed on the correcetive leg which trapped most retail traders.
The pocket of liquidity was collected by smart money and now we can see UJ making its move to the down side.
For entry, i expect price to pull back into the imbalance that was created during the move to the downside before we continue the impulsive move down.
For targets, the areas of imbalance below price will targeted as turning points before price leaves the range.
4H shows a corrective leg which has started reversing from the 78.6% retracement level.
Before pushing to the 0.786 fib level, a double top was formed on the correcetive leg which trapped most retail traders.
The pocket of liquidity was collected by smart money and now we can see UJ making its move to the down side.
For entry, i expect price to pull back into the imbalance that was created during the move to the downside before we continue the impulsive move down.
For targets, the areas of imbalance below price will targeted as turning points before price leaves the range.