A pending short coming into play for ATOM, I want to see a rejection in the supply zone formed at the 10HR red box. Alot of liquidity rests in that box, the probability of filling in the imbalance in the red box is high, due to the VFL LB indicator showing bullish momentum. We have equal lows resting at the bottom of the range low, so grabbing that liquidity and trapping order flow would make sense to overall push the market higher. I am long-term bullish on ATOM, however, short/mid-term I will be interested in taking this short play.
Note
Rejected very well, had to adjust entry and re-assess. So far so good.
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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.