Firs scenario- We see that the price is currently sitting at the swing low 12h TF. Right now i would like to see sweep of that low to consider some long positions as the price is also in HTF Order Block. If price manage to sweep the lows we may see pull back to the Order Block above and potentially first target would be 1h/4h breaker blocks, how ever we have created some nice equal highs which maybe taken out.
Second scenario- If price will break structure and close below 12 h low, i will wait for pull back and look for short positions from upper order block to full fill imbalance which marked as (blue zone) and take of another swing low.
Second scenario- If price will break structure and close below 12 h low, i will wait for pull back and look for short positions from upper order block to full fill imbalance which marked as (blue zone) and take of another swing low.
Note
IMPORTANT- Also i need to mention again, on my previous post on BTC i have said that price reach WEEKLY Imbalance 0.5 and we have Raid on WEEKLY swing high which is good confluence to prioritise short positions on market so far!!!Note
If your look on my previous post on BTC break down. You will see where price may go next in long term.Note
Note
Note
Price playing as i expected by the second scenario. The lows has not been taken yet. For sure it to early to consider any long specially when there more liqudity resting below swing lows and Monthly order block so lets see what the price is going to do now.
Trade closed: target reached
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The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.