Maybe that is a distribution area based on WYCKOFF Theory, I'm not sure but maybe. What I can see, is that price just entered to the previous fakeout/manipulation zone, also referred as Bearish Engulfing in CMS concept, and the zone manage to reject price. Also, using FMCBR system, in 1 Hour perspective, price just manage to break the previous Low creation Lower Low, or break the CB1 in FMCBR concept. So, we can expect price to reach at least minimum tp1 because in the 4hour timeframe, I can't see any bearish signal YET. Trade at your own Risk, this is only my view and there's always risk. Carefull. Also, there's no certainty that price might retest our entry zone, it might just go straight to our TP zone, OR it might instead go up creating Higher High. Exit the trade when price manage to break our final entry zone, with body.
Comment:
price entered our first entry zone and manage to reach 1st TP zone successfully. Will it reach our 2nd TP area? Don't forget to put it breakeven