Our daily bias has been bearish from the last major swing ($48265.00) on the daily timeframe. Our MA's crossed over and we are bearish. We recently just broke out of a daily channel with a retest trading into our daily imbalance at $42124.76.
We have a propulsion block on the daily timeframe at $40585.37 and an imbalance on H4 at $40291.95. These 2 price areas are our entry points which are relatively close to one another. $40585.37 has more confluence due to the fact that we have supply zone to sell into.
Our targets are as follows:
TP1@ $34990.52
TP2@ $33695.07
TP3@ $31104.96
Note: High possibility price may not trade up into our entry point because buyers are under pressure
We have a propulsion block on the daily timeframe at $40585.37 and an imbalance on H4 at $40291.95. These 2 price areas are our entry points which are relatively close to one another. $40585.37 has more confluence due to the fact that we have supply zone to sell into.
Our targets are as follows:
TP1@ $34990.52
TP2@ $33695.07
TP3@ $31104.96
Note: High possibility price may not trade up into our entry point because buyers are under pressure