Daily-timeframe
Much like the four-hour timeframe, this timeframe is bearish and tapped into a strong demand. It may reach higher into the supply zone above current price. However do not be fooled into buying, the wick is left behind is too enticing for stop/sell orders the market would definitely like to reach below that area and we have an untested area of support as well as an unmitigated fvg just below it.
Four-hour timeframe
With a clear downtrend in place, price tapped into a demand zone and reacted by driving price up 870+ pips just reaching above structure highs for liquidity and closing below it.
Fifteen-minute
We took liquidity and changed character but this is not near enough to short, we have to wait for a break of fifteen-minute structure higher lows to consider going short
Final Thoughts
The stock market has been overextended and a correction is only right. Do not buy until you see that huge area of support tested and it holds.
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