Descending Channel shows two primary areas of interest should sell pressure enter the market this week.
On the 12HR, we can see the multi-day smaller downward channel have a bottom range that market makers may be looking to sweep.
If there are any unexpected changes to market sentiment due to CPI or FOMC, we may see an aggressive deviation into the larger channel demand zone in the lower 30's.
Else, expecting a bullish bias to close out the year once these regions are swept.
Short on the 3D timeframe, long on the weekly.
On the 12HR, we can see the multi-day smaller downward channel have a bottom range that market makers may be looking to sweep.
If there are any unexpected changes to market sentiment due to CPI or FOMC, we may see an aggressive deviation into the larger channel demand zone in the lower 30's.
Else, expecting a bullish bias to close out the year once these regions are swept.
Short on the 3D timeframe, long on the weekly.
History doesn’t repeat itself, but it does travel in cycles.