A bearish market soon turned into a bullish one with the assistance of FOMC and NFP.
After the impulse that broke the bearish market structure, we entered a small corrective phase where price was manipulated and both buyers and sellers liquidity was taken.
Now that we have got our second impulsive move and price has broken the previous high, we can definitely say that bulls are in.
For us to join the trend, we would need to see a pullback into the previous demand region to get involved in longs.
Please view my HTF analysis in the related ideas below for more context.
After the impulse that broke the bearish market structure, we entered a small corrective phase where price was manipulated and both buyers and sellers liquidity was taken.
Now that we have got our second impulsive move and price has broken the previous high, we can definitely say that bulls are in.
For us to join the trend, we would need to see a pullback into the previous demand region to get involved in longs.
Please view my HTF analysis in the related ideas below for more context.
