Price is currently ranging, and we're sitting near the lower boundary of that range. While the trend has recently shown signs of weakness, this level feels too low to justify a short position at this moment.
I'm watching for potential false breakouts, especially with upcoming news that could cause a sharp move. My current bias is leaning toward a buy setup, looking to catch a reaction from this lower range zone.
Additionally, there's visible imbalance/liquidity resting above, which could act as a magnet for price. If price shows bullish intent (e.g. reclaiming a broken level or clear reaction from the demand zone), I’ll be looking to go long toward that imbalance.
I'm watching for potential false breakouts, especially with upcoming news that could cause a sharp move. My current bias is leaning toward a buy setup, looking to catch a reaction from this lower range zone.
Additionally, there's visible imbalance/liquidity resting above, which could act as a magnet for price. If price shows bullish intent (e.g. reclaiming a broken level or clear reaction from the demand zone), I’ll be looking to go long toward that imbalance.
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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.