This idea was first conceived on the 24th of December after noticing price reach a significant ATH on the 1hr.
Price failed to trade above the the 1hr OB and then proceeded to retrace.
A 1hr Wyckoff distribution schematic was then identified which set up our expectations for downside movement.
Using order flow confirmations, key points of interest were observed as price moved to our expected areas.
We are now patiently waiting to see if price will continue to form bearish market structure towards 50200 level and beyond.
Key areas will be assessed along the way in order to maximise profit.
Price failed to trade above the the 1hr OB and then proceeded to retrace.
A 1hr Wyckoff distribution schematic was then identified which set up our expectations for downside movement.
Using order flow confirmations, key points of interest were observed as price moved to our expected areas.
We are now patiently waiting to see if price will continue to form bearish market structure towards 50200 level and beyond.
Key areas will be assessed along the way in order to maximise profit.