I shared previously both scenarios and was leaning toward red, simply given the fact we had a harsh rejection at the above bearish ob in red, with candle closes below and wicks above.
We then lost the s/r as support, made a LL and broke market structure increasing the drop momentum down to my target almost perfectly, just quicker than I had anticipated!
Now bouncing off support OB and will want this to hold in the short term, I expect it should and we see some chop in this area.
A nice play if you shorted this for 16% roughly in profit!
NOW? I'd be longing this off the bottom bounce if looking to trade, waiting for a retest as confirmation though.
Cheers
We then lost the s/r as support, made a LL and broke market structure increasing the drop momentum down to my target almost perfectly, just quicker than I had anticipated!
Now bouncing off support OB and will want this to hold in the short term, I expect it should and we see some chop in this area.
A nice play if you shorted this for 16% roughly in profit!
NOW? I'd be longing this off the bottom bounce if looking to trade, waiting for a retest as confirmation though.
Cheers
Vatsik
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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.
Vatsik
Disclaimer
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.