This weeks profile is forming to be a P shaped profile and that can be a bearish outlook for next week. However given how we have been whipsawing in 2022 it will be interesting to watch.
Daily - After breaking down from 4700 area market nose dived to 11th Jan's Volume Point of Control i.e. 4650 and we close right there yesterday. Overnight we went further down, resulting in a gap down this morning which is being covered as i write this blog.
All buyers who are stuck from last 2 NY trading sessions must be eager to get out and we can potentially use that to our advantage. Trades for today can be very selective between 4675 and 4690. Probably just 2 trades with tight stoploss. If prices dont reach our levels, i dont see any other structure to engage with this market and call it an early weekend.
