As we can see on the daily timeframe, this looks like a promising setup for potential shorts. The price is currently trading high in the overall market structure and is sitting within the sell zone. While the 4H chart still shows bullish momentum, I’ll personally be watching for possible structure shifts on the 15-minute timeframe to confirm short entries.
I've marked two significant highs — both are valid targets. However, it's possible that price may push higher to take out the first high (liquidity grab) before a potential reversal. I'm leaning toward shorts, as this aligns with the higher timeframe trend.
If price action becomes strange, I’ll simply observe and stay out. No need to force anything but today possible high of the week can happen, or tomorrow. Let’s see how it unfolds in the coming days.
I've marked two significant highs — both are valid targets. However, it's possible that price may push higher to take out the first high (liquidity grab) before a potential reversal. I'm leaning toward shorts, as this aligns with the higher timeframe trend.
If price action becomes strange, I’ll simply observe and stay out. No need to force anything but today possible high of the week can happen, or tomorrow. Let’s see how it unfolds in the coming days.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.