R2F Weekly Analysis - 15th June 2024 (ICT Concepts)
Welcome to another R2F Weekly Market Analysis using ICT Concepts along with my own discoveries. I'm going to go through various assets/markets, and give a real-time view of how I perform my analysis on the weekends. I'll give my take on what has been happening, and what I'm expecting in either the coming days, weeks, or months. Without further ado, let's get into it!
I feel like the Dollar Index is primed to move higher. It has so far been acting how I have anticipated, respecting institutional order flow.
Let's breakdown what has happening, and my thought process around it.
In May, price retraced after a consolidation, engineering equal highs. This bodes well for my bullish outlook.
Price bottomed it's retracement on the 7th June 2024. If you check the Dollar futures chart took out buyside liquidity and created an SMT divergence on the DXY chart. Because of this, I am more confident in price not coming down to take out the relative equal lows below.
Price expanded from there, and retraced into a weekly wick CE coupled with a daily bullish Orderblock, halting in its tracks and expanding higher again. The sudden drop and equally sudden recover adds additional confluence to my bullish outlook, not because of the "strength" but because of the manipulation of sentiment.
Now we are re-entering a previously used weekly SIBI for the potential of using it as an iFVG. We did not close the weekly conventionally higher than the actual iFVG, as I would usually like, but the bullishness of the previous week's candle leaves the idea open of us expanding higher in the coming week with little retracement below it's open, therefore creating a BISI that may or may not be used later.
As for targets, first is the previous month's high that is coupled with equal highs. The two other targets are a weekly swing high that goes way back, and a New Week Opening Gap which is deeper into the general liquidity void residing above.
If you enjoyed this analysis, leave a like or a comment.
If you want to learn how to analyze like this, check out my profile for more videos and information.
Happy Trading!
I feel like the Dollar Index is primed to move higher. It has so far been acting how I have anticipated, respecting institutional order flow.
Let's breakdown what has happening, and my thought process around it.
In May, price retraced after a consolidation, engineering equal highs. This bodes well for my bullish outlook.
Price bottomed it's retracement on the 7th June 2024. If you check the Dollar futures chart took out buyside liquidity and created an SMT divergence on the DXY chart. Because of this, I am more confident in price not coming down to take out the relative equal lows below.
Price expanded from there, and retraced into a weekly wick CE coupled with a daily bullish Orderblock, halting in its tracks and expanding higher again. The sudden drop and equally sudden recover adds additional confluence to my bullish outlook, not because of the "strength" but because of the manipulation of sentiment.
Now we are re-entering a previously used weekly SIBI for the potential of using it as an iFVG. We did not close the weekly conventionally higher than the actual iFVG, as I would usually like, but the bullishness of the previous week's candle leaves the idea open of us expanding higher in the coming week with little retracement below it's open, therefore creating a BISI that may or may not be used later.
As for targets, first is the previous month's high that is coupled with equal highs. The two other targets are a weekly swing high that goes way back, and a New Week Opening Gap which is deeper into the general liquidity void residing above.
If you enjoyed this analysis, leave a like or a comment.
If you want to learn how to analyze like this, check out my profile for more videos and information.
Happy Trading!
R2F
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Telegram: @TradinGGrace
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Private Coaching Available
Telegram: @TradinGGrace
Discord: @pippilongshorting
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