Professional volume came in a the recent, lower high. I commented the following: if that high gets challenged, they are gonna step up within an extra 15 pips, but I do not expect a challenge within 5 days.

If I had to imagine a “death of money flow” image, it would look like the yellow box. I don’t think this intensity can be kept up for long.

A speculative drawing of an ABC correction with an A leg being a 5-wave structure, a B leg a 3, a C leg another 5 waves. Not sure why, but the idea of a contracting flat correction does not feel satisfying. It feels like another higher high is still in the cards.

I have figured out the filter to distinguish a liquidity break from a stong rally. 130+ pips that is within 2 days.

The BB width just made a new low.

3x BB out #1. We may get 2 more, but the 30BB has to start coming back in radically. The bow back did not make it to the lifeline (8 EMO). Again, this kind of aggression is not sustainable.

The writing was on the wall with that Xtra Heavy MM long cover at the high. The W3C distance got rounded up to a W3F (far end of the orange projection box). We are in a buy box now, so consolidation is more than necessary.

After a W3-something print, the next leg should be a Support or a Thrust print – that would mean a 36-46 pip leg down from the new consolidation mean.

You can see how the Stochastic Bars Hybrid can call attention to a higher high with a missing momentum print.

The up move should cap out at the SOB.

The thrust could get to 1.0365 or so. Scale in to a short between 1.0410 and 1.0427 knowing that a lower low needs to be made for a 3-point turn.