February 19, 2025

The weekly and daily charts are extremely bullish, though not presenting a great risk / reward for entries at this time. There's cause for hesitation on the daily as we continue to meet resistance with less momentum than the last attempts to break this high.

The 4h chart is also starting to show similar divergence, but again supports are holding.

On higher time frames, my bias is up, and the market can totally continue up, but I'm proceeding with extreme caution given the tight range we've been in for the past weeks.

It's also OPEX week which tends to be choppy, directionless and trappy.

Down to the hourly... We're sideways. As of 9a the structure is pushing down to equal lows / demand zones, with a negative bias on the 21e. Despite the negative slope, we are at very meaningful support, and an area we ripped from yesterday. The sideways nature of the hourly chart, dictates a scalping mindset on trade entries and exits. Smaller size, quicker exits.

The 10m chart is clearly to the downside. The 48e is the last line of resistance, and the 21e has failed to break 2x. The bias is to the downside, but we must wait to see how price reacts to resistance. It is incredibly ill-advised to short the hole, especially as we are at a higher time frame support. If we lose this support, we can wait for a retest to enter for further downside. Otherwise, we can wait until yesterday's HOD is tested and see how price reacts. The only reason to consider calls, if support continues to hold, with clear divergence on the 10m.

Entry would be on a retest of demand after a break of the 3/48.

Puts in the 10m ribbon at supply / resistance.

Puts after a clear break of demand and enter on the rests.

Calls if demand holds and there's divergence / squeeze on the 3m

Calls if the 10/48 breaks and holds.