Chainlink’s sell side liquidity sweep on Monday is still keeping its May 15 bullish order block in play. With a latest 4H FVG inside this OB, an up wave remains a possibility.

As a result, my June 19’s long trade plan has ended in another loss after holding for 4 days and 21 hours:

https://www.finlogix.com/analysis/20240619/chainlink-intraday-analysis-and-trading-plan-for-june-19-2024

The US is set to have 4 remaining high impact economic reports starting tonight to wrap this trading week.

Re-assessing LINKUSD’s high timeframe candles:

Yearly Candle: Last check is a Red Long-Legged Doji now a Red Long Upper Shadow with a Small Body

Monthly Candle: Still a Red Body with a Longer Tail Wick since last check

Weekly Candle: Previous close is a Red Body with a Longer Tail Wick current is a Green Spinning Top

Daily Candle: Previous close is a Red Body with a Longer Head Wick current is a Red Hammer

In today’s analysis, I will be referencing the retracement points of view from June 20-24 swing high to low move.

These retracement points have created a sell side liquidation below May 15’s bullish order block and a new bullish 4H FVG show above that is a must hold level if Chainlink wants to go higher again.

If the bulls are able to make a convincing move through a breakout in the current 13.50-14.20 range, then the bearish 4H OB is a target.

Keep in mind that high price volatility is still observed as the US will be releasing key inflation data including Final GDP quarter-over-quarter and Unemployment Claims tonight.

With a strong previous 4H candle rebounding from the nearby 4H bullish FVG, I’m going to long Chainlink again entering through the current 4H candle. With the same take profit target previously aimed at the bearish OB while setting the stop loss just below Monday’s lows.

Note: Finlogix pricing is set from the ACY Securities price feed, with liquidity being sourced by top tier banks via ACY Connect.

All trade ideas I share are my own views and for my own trades only.

Chainlink Intraday Analysis and Trading Plan For June 27, 2024

Jun 27 2024

Stop Loss -10.60%

Holding time 7d13hr

13.750

Entry price

12.292

Stop loss price

1