I'm shifting my bias to bearish, only until i see some repricing at around daily +FVG.
After extended market for this past few days, We'll need to expect retracement or some sideways movement, either to capitulate short term buyers or sellers, then market will continue to move in one direction.
My setup based on how the market have moved after it reached previous target of daily range liquidity, market failed to close above previous 2 days' high which implied (at least to me) that price won't be doing its bullish move any time sooner.
I'm building a narrative of market is trying to accumulate more positions.
While intraday, price respected each bearish key levels down to 4h TF. I'll be utilizing some 15m key levels to bid my limit entry short.
Let's see...
After extended market for this past few days, We'll need to expect retracement or some sideways movement, either to capitulate short term buyers or sellers, then market will continue to move in one direction.
My setup based on how the market have moved after it reached previous target of daily range liquidity, market failed to close above previous 2 days' high which implied (at least to me) that price won't be doing its bullish move any time sooner.
I'm building a narrative of market is trying to accumulate more positions.
While intraday, price respected each bearish key levels down to 4h TF. I'll be utilizing some 15m key levels to bid my limit entry short.
Let's see...
Note
I'm cancelling my limit if price breaks below 63200Trade active
Trade closed: stop reached
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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.