As you can see above I have placed two sell positions on this market that were executed due to a penetration of a large POI that I had highlighted from a previous impulsive wave.
Once price penetrated this POI it introduced a-lot of Supply into the market, enough Supply was introduced to flip the Supply and Demand balance and because of that we saw the bullish correction conclude and we had the creation of this new bearish impulse.
I took full advantage of this swing and have taken partials throughout as well and implemented safety measures like SL moves to BE.
We have recently had confirmation of further bearishness on the higher timeframes as we have been delivered with a break of structure to the downside.
I now believe price will put in a fractal correction into one of two Supply zones before offering us with further bearishness, this is allowing us to get involved in buys before we sell further.
Once price penetrated this POI it introduced a-lot of Supply into the market, enough Supply was introduced to flip the Supply and Demand balance and because of that we saw the bullish correction conclude and we had the creation of this new bearish impulse.
I took full advantage of this swing and have taken partials throughout as well and implemented safety measures like SL moves to BE.
We have recently had confirmation of further bearishness on the higher timeframes as we have been delivered with a break of structure to the downside.
I now believe price will put in a fractal correction into one of two Supply zones before offering us with further bearishness, this is allowing us to get involved in buys before we sell further.