DEGEN has recently broken its ascending trendline on the 1H timeframe, signaling a potential shift in short term market structure.
Price is currently trading inside a higher timeframe bearish order block on the 4H chart.
This area has previously acted as a strong reaction zone and remains an important level to monitor.
After the trendline break, price is consolidating and I am now waiting for a retest of the broken structure to assess the next move.
Key observations:
Higher timeframe bias remains bearish
Trendline on the 1H has been broken
Lower timeframe price action suggests consolidation after the break
A 4H fair value gap remains below as a potential draw on liquidity
At this stage, no trade has been taken.
I am waiting for the retest to enter this trade. No hit, no trade!
MrC
Price is currently trading inside a higher timeframe bearish order block on the 4H chart.
This area has previously acted as a strong reaction zone and remains an important level to monitor.
After the trendline break, price is consolidating and I am now waiting for a retest of the broken structure to assess the next move.
Key observations:
Higher timeframe bias remains bearish
Trendline on the 1H has been broken
Lower timeframe price action suggests consolidation after the break
A 4H fair value gap remains below as a potential draw on liquidity
At this stage, no trade has been taken.
I am waiting for the retest to enter this trade. No hit, no trade!
MrC
Order cancelled
Closing this limit order. Didnt hit my order
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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.
Related publications
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.