CAR - Setting up for a large move. But in which direction??CAR is building both bullish and bearish liquidity on lower and higher time frames and setting important S&D zones at current levels. We know where our immediate HTF supply rests (at the $120 level) and we know where our immediate HTF demand is (where we are now at the $70-$77 level).
Two things we can see start to happen over the next few days/weeks that will give us further insight into the impending move:
1. Current demand zone builds enough bullish liquidity, we begin to see stronger and rising bullish volume off of these levels, and start to build LTF bullish liquidity with controlled selling. This will indicate that a move to HTF supply at $120 is probable and from there we will have a bullish bias off of a rejection and need to start seeing some LTF zones flipped to demand.
2. Current demand zone does not prove to hold enough bullish interest and we continue to build bearish liquidity within our controlled buying algorithms (green and yellow) to then break us down below HTF demand. This will be a quicker move than the bullish scenario so we must keep our eyes peeled for controlled buying (minimal volume, tapered green buying).
Happy Holidays and as always,
Happy Trading!
