Multiple Confluence: Short Idea
We're approaching the midpoint of the broader sideways channel, which is slightly bearish.
This area also coincides with the Value Area Low (VAL) identified on the volume profile. Additionally, the Anchor VWAP from the recent high aligns perfectly with this zone.
Notably, this area also marks the closure of the CME gap and is near a daily Naked Point of Control (NPOC).
Given these confluences and the current bearish local trend, a short position might be considered.
Disclaimer: I am a learning trader and currently not profitable. Please approach these ideas with that in mind. Feel free to share your insights and analysis to help me improve my trading skills.
This area also coincides with the Value Area Low (VAL) identified on the volume profile. Additionally, the Anchor VWAP from the recent high aligns perfectly with this zone.
Notably, this area also marks the closure of the CME gap and is near a daily Naked Point of Control (NPOC).
Given these confluences and the current bearish local trend, a short position might be considered.
Disclaimer: I am a learning trader and currently not profitable. Please approach these ideas with that in mind. Feel free to share your insights and analysis to help me improve my trading skills.
Disclaimer
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