This chart shows a potential short position when it retests the most recent bearish order block. Multiple shadow wicks are visible, MACD crossed, bearish 200 EMA, and there are no fair value gaps to be filled above, which makes it less likely to have a pump. A change of character also happened recently which supports our short position for this bearish market structure. Our take profit will be in the recent low, but we can take partial profits along the way.
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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.