wasifhassan101

Market is currently reacting to the Daily Bearish Orderblock (OB). The Monthly Bullish OB has been tapped in, which indicates an overall Bullish pressure. Last week I was Bullish upto 181 area which played out perfectly. This week I am looking for either of following scenarios: 1. Market breaks through the Bearish OB around 184, gives a BOS to the upside, Bullish till 199 where a Bearish OB resides. 2. On 1H, Market is reacting to a Bullish OB, if it reacts, gives a BOS to the upside, intraday long to Daily Bearish OB. 3. Market breaks down, gives us MSS to the downside, short till 4H Bullish OB. 4. A long from 4H Bullish OB.

I usually (haha) trade on the basis of what is market doing right now and what is it likely to do next. Right now it looks like reaching for at least the BSL marked. In any case, as traders, we are trading probabilities, so let’s see.

Market can expand after this retracement. If it doesn't give any indication to move higher we can expect deeper retracement or reversal. If it expands now, it has a strong resistance around 4000 level. If that breaks, way up. If not, we at least get long till the major resistance. Currently, price is in a sensitive zone, if we get Daily/4H indication of running lower, we short. If it displaces upwards on Daily/4H we long. On any side here, we wait for the first expansion move.

Market can go to test the weekly Orderblock. If that OB breaks, we are in a reversal and market is more likely to run the HTF SSL. If it runs away from the OB and shows us the first sign of expansion, we can target BSL and beyond.