Hello Day Traders,
I come bearing bearish fruits.
This trade is simply a continuation of the bearish trend. Looking at the daily chart, you will notice that the price structure in the past couple of days is bearish. Also, there was a price manipulation to the bullish side yesterday. This is very visible by just looking at how yesterday's candle closed.
My speculation is that price would retrace into one of these order blocks and confirmation for the bearish continuation would be seen on lower timeframes. Which one of the order blocks would hold? well, I don't know but we shall see.
I would like to also state that price might just continue selling to the target price without giving a retracement to any of the order blocks.
Follow for more updates like this.
Cheers,
Jabari
I come bearing bearish fruits.
This trade is simply a continuation of the bearish trend. Looking at the daily chart, you will notice that the price structure in the past couple of days is bearish. Also, there was a price manipulation to the bullish side yesterday. This is very visible by just looking at how yesterday's candle closed.
My speculation is that price would retrace into one of these order blocks and confirmation for the bearish continuation would be seen on lower timeframes. Which one of the order blocks would hold? well, I don't know but we shall see.
I would like to also state that price might just continue selling to the target price without giving a retracement to any of the order blocks.
Follow for more updates like this.
Cheers,
Jabari
Trade closed: target reached