There are 2 possible scenarios for the next days, according to this analysis however a bullish move until 154.7 will be highly probable.
The price fell down from the 156 level very rapid so a lot of imbalances left to get mitigated before we continue our bearish overall move to the 149 level.
Scenario 1:
Structure level holds, we retest the OB from friday and we go straight up to 154.7 TP1. The trendline liquidity from the sell orders will be used to push price up, so a retest of the strong supply zone on the 156 level is our TP2.
Scenario 2:
We trap buyers at the 153.8 area to grab liquidity from the previous high so we can drop down to the lower structure level 151.5 and retest the demand zone that created the impulsive move to the upside. That will be our 2nd long entry.
After the long we look for a nice short.
Good luck.
The price fell down from the 156 level very rapid so a lot of imbalances left to get mitigated before we continue our bearish overall move to the 149 level.
Scenario 1:
Structure level holds, we retest the OB from friday and we go straight up to 154.7 TP1. The trendline liquidity from the sell orders will be used to push price up, so a retest of the strong supply zone on the 156 level is our TP2.
Scenario 2:
We trap buyers at the 153.8 area to grab liquidity from the previous high so we can drop down to the lower structure level 151.5 and retest the demand zone that created the impulsive move to the upside. That will be our 2nd long entry.
After the long we look for a nice short.
Good luck.