Currently price action seems to repeat textbook wyckoff range accumulation structure. Price seem at range high , but not just typical range high , but major range resistance previous bull support range. Usually what we want to see here whethere is this a deviation or a break to a new higher range.
2 probabilities here
1. Price rejected range high, confirmation. Entry after confirm . Target sell at mid range 50% and low range 50%
2. Price break range high and confirm with higher high n lower high. I cut loss and wait for price to settle at new range high.
In coming 3 months , we are heading into key decision moment whether fed gonna pause hiking rates or not. Tbh i dont think fed going to pause very soon when inflation is sticky, powell mentioned before he's going to ensure inflation rate back to 2% while currently we are at 4.9%. We are still far away for powell target to 2% , they have been printed twice the amount of money starting in 2020 and we expect fed to stop hike this year? Most proabably not , but i might be wrong. Now im putting my money where my mouth is.
Share ur thoughts.
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Clause de non-responsabilité
Les informations et les publications ne sont pas destinées à être, et ne constituent pas, des conseils ou des recommandations en matière de finance, d'investissement, de trading ou d'autres types de conseils fournis ou approuvés par TradingView. Pour en savoir plus, consultez les Conditions d'utilisation.