๐ Market Analysis: Market Structure
In Scenario 1 of the previous post, we anticipated the market pulling back, and as expected, it fell to the previous support level on the 4-hour timeframe. For some, it stopped at the support zone, while for others, it extended a bit furtherโbut thatโs not the real issue.
๐ The key focus now is how the daily candle will close, as that matters the most.
I would prefer a daily close as an inverted hammer, which is a strong signal that the market is pausing before a potential rally begins.
A well-formed inverted hammer suggests buyers are stepping in, increasing the chance of an upward move. However, confirmation is needed before taking action.
โ ๏ธ Stay focused and patient! Let the market come to you instead of chasing trades.
๐ข Share & follow for more updates! ๐
