Market Dynamics: Large Players Enter as Price Reaches Highs

The price has been on a significant bullish rally, breaking historical highs. This suggests that the price has encountered strong buying interest, indicating the presence of buy-side liquidity. From a technical perspective, this suggests that a retracement may be imminent.

As further confirmation, on the daily chart, we can see that the price reached the liquidity of its previous high and swiftly reversed, creating a breaker pattern. If the price continues to decline, it is likely to experience a shallow retracement to prevent buyers from recovering all their losses.

Additionally, in the highlighted area, we can clearly observe a decrease in buying activity and an increase in aggressive short positions. This could be an indication of the involvement of institutional or large traders, and it's something to keep a close eye on.

Furthermore, the catalysts scheduled for tomorrow add more weight to the possibility of a correction. In my experience, this type of price action often occurs before significant market-moving events. A significant correction is highly probable.

For setting stop-loss (SL) levels, I've shared both aggressive and conservative ideas. I've also provided take-profit (TP) levels based on Fibonacci retracement levels at -272 and -618, with the last one indicated by the white line on the chart.

Please note that trading involves risks, and it's essential to use proper risk management techniques and consider your own trading strategy and risk tolerance when making trading decisions. This analysis is for informational purposes only and should not be considered as financial advice.

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