Market structure is bearish. Order flow also bearish.
But still we can see clear reaction area down there from left side. Retail traders will eventually look into that zone. So market can rise up from there to manipulate long for banks to make big sell. Asia high is there to take out before move. These are my ideology to look into.
What we can do is use this opportunity to take some profit from this move. But be careful I personally never suggest limit or stop orders. Wait for market to give us confirmation then enter. Or else just leave it. We will catch it later.
Note: I am not an advisor or magician. Trading contains high risk to lose your capital. This is my own analysis. I am not advice to take any order based on my analysis.
But still we can see clear reaction area down there from left side. Retail traders will eventually look into that zone. So market can rise up from there to manipulate long for banks to make big sell. Asia high is there to take out before move. These are my ideology to look into.
What we can do is use this opportunity to take some profit from this move. But be careful I personally never suggest limit or stop orders. Wait for market to give us confirmation then enter. Or else just leave it. We will catch it later.
Note: I am not an advisor or magician. Trading contains high risk to lose your capital. This is my own analysis. I am not advice to take any order based on my analysis.