WHY?
1. structure still downtrend
2. looking for shorts at (3) area. confluence with fibo area 0.5 + previous demand turns supply area( red arrow)
3. target price :
- no 1 previous resistance double top (yellow arrow) before the huge pump
- no 2 final target price which is SNR area from 2015 till 2020 . + confluence with 0.886 fibo and also 0.382 fibo extension
1. structure still downtrend
2. looking for shorts at (3) area. confluence with fibo area 0.5 + previous demand turns supply area( red arrow)
3. target price :
- no 1 previous resistance double top (yellow arrow) before the huge pump
- no 2 final target price which is SNR area from 2015 till 2020 . + confluence with 0.886 fibo and also 0.382 fibo extension
Comment:
SO HOW TO FIND AN ENTRY?
make sure to have confirmation on lower TF. you dont want to short when the price is still bullish and not showing weakness. and this is also important for us to put on our stoploss.
so i will be waiting for a market structure shift and entry on the fair value gap or after taken out the inducement/ liquidity
everyone have their own entry module. just make sure you stick with them
make sure to have confirmation on lower TF. you dont want to short when the price is still bullish and not showing weakness. and this is also important for us to put on our stoploss.
so i will be waiting for a market structure shift and entry on the fair value gap or after taken out the inducement/ liquidity
everyone have their own entry module. just make sure you stick with them
invalidation would be like this : price pullbacks and creating a new high.