US30/USD Shorts down towards 34400.0 (possibly lower)

OANDA:US30USD   US Wall St 30
From my US30 analysis we are currently approaching a key level of supply, even though we are very bullish the market requires a pull back in order to mitigate the inefficiencies left below, Hence why I am temporarily bearish this week. I see price reacting from the daily supply and dropping towards 34400.0 or even lower to more discounted zones in order for price to continue in its bullish trend upwards.

As of current price I would be waiting for a distribution to play out on the lower time frame and a clean CHOCH because we will be counter trend trading back down. As of my designated target, there is lots of imbalances as well as liquidity in the form of asian lows.

Confluences for US30 Shorts are as follows:

- Price about to tap into a daily supply zone that has caused a BOS to the downside.

- Current price has swept lots of liquidity (EQHs) and has taken out swing highs just below.

- Price is premium so it's ideal to sell from this daily supply zone that we are approaching.

- Lots of liquidity to the downside as well as imbalances that needs to get taken.

- Price has been moving bullish and requires a pull back if price wants to continue in uptrend.

- Price is slowly distributing before the mitigation of zone but pending a clean CHOCH.

P.S. we are at the top of this internal structure that has caused a huge break of structure to the downside in which price is more probable to react from. As we have entered a premium POI I would be looking at imminent sells soon as possible once my confluences are met.


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