Short Bias,
- Price delivered above 114.83 to liquidate any buy stops and induced buyers into the market.
- The next draw on liquidity (final target) is the relative equal lows at 61.56.
- Looking at the dealing range from 130.50 to 92.53, price peaked just below 92.53 and is currently seeking liquidity to the upside above 116.64.
- Above that high is also an untapped Bearish Order Block at 117.07.
- On timeframes below the daily are imbalances unfulfilled.
- If price reaches above 116.64 I will consider entering short.
- Will take partials at 92.53 to reduce risk.
I will monitor price on a low time frame for delivery above 116.64. At that point, I will watch for displacement below a swing low under 116.64. Then enter on an imbalance of that displacement leg. My stop-loss will be placed just above the high of that leg or on the candle that created the imbalance.
My opinion only, not financial advice.
- Price delivered above 114.83 to liquidate any buy stops and induced buyers into the market.
- The next draw on liquidity (final target) is the relative equal lows at 61.56.
- Looking at the dealing range from 130.50 to 92.53, price peaked just below 92.53 and is currently seeking liquidity to the upside above 116.64.
- Above that high is also an untapped Bearish Order Block at 117.07.
- On timeframes below the daily are imbalances unfulfilled.
- If price reaches above 116.64 I will consider entering short.
- Will take partials at 92.53 to reduce risk.
I will monitor price on a low time frame for delivery above 116.64. At that point, I will watch for displacement below a swing low under 116.64. Then enter on an imbalance of that displacement leg. My stop-loss will be placed just above the high of that leg or on the candle that created the imbalance.
My opinion only, not financial advice.
