Decentraland / TetherUSUpdated Mana - MMXM - possible distribution set up
Long-term Perspective:
The Draw on Liquidity is to the downside: 0.9$ and 0,61$
anything above like the Buy Side Liquidity (BSL) around 1.137$ is short term.
=> The Plan is to look for distribution price action (MMSM) after market take out the stops around 1.137$
Intermediate-term Perspective:
The market shows already a msb after taking out intermediate-term Liquidity. Not sure if this is the final top. I want to see a stop hunt of that liquidity of one level higher (1.137$) before entering shorts.
The Draw on Liquidity is to the downside: 0.9$ and 0,61$
anything above like the Buy Side Liquidity (BSL) around 1.137$ is short term.
=> The Plan is to look for distribution price action (MMSM) after market take out the stops around 1.137$
Intermediate-term Perspective:
The market shows already a msb after taking out intermediate-term Liquidity. Not sure if this is the final top. I want to see a stop hunt of that liquidity of one level higher (1.137$) before entering shorts.
Note
Additionaly the H1 left a FVG on that msb which increases the probability of a possible short play. Hence I look for a lower high rejection from that fvg targeting the previous day New York Stops.
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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.