Could we see another drop before price starts to rise again?
Price is currently resting inside a 4hr bearish FVG and I also have the 50% range of that 4hr imbalance in the dark green line. Aware of the completely filled weekly FVG that price is currently above and expecting for price to climb even lower below and leave a immediate rebalance on the monthly timeframe. Below that is the quadrant levels for previous months wick which would be from August price action. Those are levels that I would consider high probable to retrace to continue higher.
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Price retraced lower during opening bell into a NWOG from September 28th. I took a entry down to that gap as well. I do believe price will seek lower prices coming into tomorrow's trading. My final terminal for price to the down side is a rebalance of previous month wick which is below October 12th NWOG. Since the higher timeframe is very bullish I wouldn't be interested in shorting any lower than that unless we see clues on the higher timeframe. 
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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.