We have a supply zone from which a strong drop has previously formed. This zone has been tested once already, but with only minimal penetration. Given this shallow penetration and the price’s inability to make a lower low, we are once again expecting a potential short position from this zone.
We’re looking for a short position because the larger market structure is bearish.
If the price reaches the supply area, we’ll be looking to enter a position. We expect the liquidity pool below the chart to be swept, leading price to hit our targets.
However, if a daily candle closes above the invalidation level, this outlook will no longer be valid.
Do not enter the position without capital management and stop setting
Comment if you have any questions
thank you
We’re looking for a short position because the larger market structure is bearish.
If the price reaches the supply area, we’ll be looking to enter a position. We expect the liquidity pool below the chart to be swept, leading price to hit our targets.
However, if a daily candle closes above the invalidation level, this outlook will no longer be valid.
Do not enter the position without capital management and stop setting
Comment if you have any questions
thank you
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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.
🔥 See hot signals and top analyzes on our free Telegram channel: 👉 t.me/iMoney_T
🔥 Profitable signals are only posted on our free Telegram channel: 👉 t.me/iMoney_T
🔥 Profitable signals are only posted on our free Telegram channel: 👉 t.me/iMoney_T
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.