XMR - MMSM - 31.05.22 - Daily SFP around Supply Block -

31 May 2022

Long-Term Perspective [Daily]:

narrative:
Price is retesting a daily supply block and created a swing failure pattern with yesterdays monday candle. I assume Resistance to hold until proven otherwise.
Instead of blindly shorting this market I will wait for certain price trigger to get into the trade.

Draw on Liquidity (DOL):
- upside Liquidity is taken
- downside FVG around 188$

Intermediate Perspective [hourly]:
notes on the chart below

31 May 2022

Not

hourly shows a clean MMXM Set up building up.
What I want to see from here is either 1. a Sweep to the upside followed by a msb or 2. msb down creating a fvg where i try to enter on a retest.

The objective is 188$ based on the DOL

M15

31 May 2022

Not

extended target is 178$-172$ based on the hourly FVG and unmitigated POI.

Only question rn is what kind of distribution builds up the next hours.