Nice simple analysis. MSB was broken, failed to push price higher, therefore retesting the break of structure, to which will price carry on forming lows into the $53K level to which price will accumulate around the monthly low. Once that has been tested, price will then rise to fill in the FVG and tap into the Daily Supply zone, back into the $60ks. Nice range play incoming.
Note
At a very key level that might invalidate the Short! Will see how this plays how, if we hold above this $58.6k level and retest, then it may just be the support necessary to catapult us back into the Supply zone. However, if it doesn't hold, then short is still intact! Waiting to see how this plays out.Note
Scalping the range all day - There is another opportunity coming up, looks like it will make a new range to play in. These levels are daily + monthly levels, traded on the 5 minute. Note
Slowly pushing lower - lets see how it plays out.
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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.