Market Outlook in Daily Time Frame
The chart displays a clear ascending channel, which was broken after a liquidity sweep above the upper boundary. Price tapped into a higher timeframe supply zone, followed by a strong bearish rejection — suggesting smart money distribution.
Key Points
- Ascending Channel: Structure broke after price swept buy-side liquidity.
- Supply Zone: Rejection from confluence of supply + 0.618 Fib level at 120,527.
- Order Block: Price may revisit the 118000 OB before continuing lower.
- Liquidity Targets:
- Buy-side at 119,332 (swept)
- Sell-side at 115,426 (potential draw)
Outlook
Price is likely to continue downward toward the 115,426 liquidity pool, unless a short-term retracement occurs to mitigate the 118000 OB. This setup aligns with typical smart money distribution and liquidity engineering.
The chart displays a clear ascending channel, which was broken after a liquidity sweep above the upper boundary. Price tapped into a higher timeframe supply zone, followed by a strong bearish rejection — suggesting smart money distribution.
Key Points
- Ascending Channel: Structure broke after price swept buy-side liquidity.
- Supply Zone: Rejection from confluence of supply + 0.618 Fib level at 120,527.
- Order Block: Price may revisit the 118000 OB before continuing lower.
- Liquidity Targets:
- Buy-side at 119,332 (swept)
- Sell-side at 115,426 (potential draw)
Outlook
Price is likely to continue downward toward the 115,426 liquidity pool, unless a short-term retracement occurs to mitigate the 118000 OB. This setup aligns with typical smart money distribution and liquidity engineering.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.