Im not interested in trying to play long but rather try and identify another area to short from. I expect the swing high to hold as price is making lower highs and to retest the swing low, which may keep falling from here. This time the retrace area is quite deep and we have two structures within it that I will target for a short. As always if the swing high is broken then I would expect price to make a higher low.
Comments
kate25
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So we have a new high and two demand areas below at 112.41 and 112.12, I would anticipate a higher low as we got a higher high
kate25
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try this again
kate25
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@kate25, huh guess the snapshots are not printing out
kate25
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Price created demand a t 112.12 and it could be an area that stalls price from going down so I marked the chart at that level in red