Market corrected in three waves W-X-Y, and broke on the FED day following the hawkish Jay Powell rhetoric. 3700 level showed support, and several bounces from that level ensued, not lookin overly inspiring i.e. the structure looks corrective.
The only caveat, a warning sign for this stance is USD weakness on Friday i.e. across the board strength in commodities. But it is never ideal, and this set up looks worth a shot on the downside, from the risk reward perspective
The only caveat, a warning sign for this stance is USD weakness on Friday i.e. across the board strength in commodities. But it is never ideal, and this set up looks worth a shot on the downside, from the risk reward perspective
