Price has been bullish throughout the day, reflecting strong momentum, driven by post-holiday liquidity and market participants returning.
New York session opens in 1 hour, hopefully introducing volatility and liquidity for continuation or reversals, enough to catch a BIG move!!
Scenario 1: Bullish Continuation from Current Levels
Price holds above the yellow mid-level and breaks the recent high.
Confirmation: A bullish MSS or CHoCH near the mid-level or current consolidation.
Target: Higher liquidity zones beyond the current high.
Scenario 2: Bearish Pullback to the Blue Support Zone
Price rejects the yellow mid-level and breaks structure downward.
Confirmation: A retest of an FVG/OB below the mid-level.
Target: Blue support zone for potential reversal or continuation.
Scenario 3: Bullish Reversal from the Blue Support Zone
Price dips into the blue support zone, sweeps liquidity, and reverses bullish.
Confirmation: A bullish CHoCH or MSS after the liquidity sweep.
Target: Retest of the yellow mid-level and beyond.
Scenario 4: Bearish Breakdown
Price breaks below the blue support zone, invalidating bullish bias.
Confirmation: A retest of the blue zone as resistance.
Target: Lower liquidity zones below the chart.
Happy New Year and Trade safe!!