The market has been relentless to the downside over the last 2-3 months.
0:0 Monthly timeframe
2:00 Weekly timeframe
5:35 Daily timeframe
8:45 4hr timeframe
12:35 let's zoom out a bit
12:30 1hr timeframe
15:15 Bias
Fueled by Inflation data and technical confirmations, the market has continued is descent time & again. Tuesday Wednesday and thursday have closed bearish. We have established momentum in the market and I believe it is likely that we contiue on this path to end the week. The weekly can may continue to pull to the downside as it is currently bearish and has a 77 pips top wick. The thursday daily candle closed bearish and we have a wick to go fill with momentum. The market set itself up early in the week as it was bullish on monday and observed bullish impulses on tuesday and wednesday. Thursday saw a continuation of the bear momentum established on wednesday and I believe we may also see a continuatiion on Friday. It is easier trading with the trend.. and they do say .. the trend is your friend.
With that said, we must remain flexible when trading the markets and our success across time realy depends on our ability to adapt to the changing market conditions.
0:0 Monthly timeframe
2:00 Weekly timeframe
5:35 Daily timeframe
8:45 4hr timeframe
12:35 let's zoom out a bit
12:30 1hr timeframe
15:15 Bias
Fueled by Inflation data and technical confirmations, the market has continued is descent time & again. Tuesday Wednesday and thursday have closed bearish. We have established momentum in the market and I believe it is likely that we contiue on this path to end the week. The weekly can may continue to pull to the downside as it is currently bearish and has a 77 pips top wick. The thursday daily candle closed bearish and we have a wick to go fill with momentum. The market set itself up early in the week as it was bullish on monday and observed bullish impulses on tuesday and wednesday. Thursday saw a continuation of the bear momentum established on wednesday and I believe we may also see a continuatiion on Friday. It is easier trading with the trend.. and they do say .. the trend is your friend.
With that said, we must remain flexible when trading the markets and our success across time realy depends on our ability to adapt to the changing market conditions.
