Technical Analysis
The current price action is suggesting that there may be one more small bullish rally before the bears return. The price is currently trading near an order block above, and if it is able to break through this level, it could trigger a short-term rally. However, it is important to note that the overall trend is still bearish, and so it is likely that the price will eventually break down below the order block and continue lower.
Trading Strategy
Traders who are looking to short the market could enter a trade if the price breaks down below the order block. A stop-loss order should be placed above the order block to protect against losses in case the price does not break down as expected.
Risk Management
The risk of this trade is that the price could rally above the order block and negate the short trade. To minimize this risk, traders should use a tight stop-loss order.
Conclusion
The current price action suggests that there may be one more small bullish rally before the bears return. However, the overall trend is still bearish, and so it is likely that the price will eventually break down below the order block and continue lower. Traders who are looking to short the market could enter a trade if the price breaks down below the order block.
The current price action is suggesting that there may be one more small bullish rally before the bears return. The price is currently trading near an order block above, and if it is able to break through this level, it could trigger a short-term rally. However, it is important to note that the overall trend is still bearish, and so it is likely that the price will eventually break down below the order block and continue lower.
Trading Strategy
Traders who are looking to short the market could enter a trade if the price breaks down below the order block. A stop-loss order should be placed above the order block to protect against losses in case the price does not break down as expected.
Risk Management
The risk of this trade is that the price could rally above the order block and negate the short trade. To minimize this risk, traders should use a tight stop-loss order.
Conclusion
The current price action suggests that there may be one more small bullish rally before the bears return. However, the overall trend is still bearish, and so it is likely that the price will eventually break down below the order block and continue lower. Traders who are looking to short the market could enter a trade if the price breaks down below the order block.
Comment:
1hr arrows weren't spaced out but the idea still strong! down we go