Shorts are still strong, Look for high price for entry -
1) Short Entry Levels:
2) Bias:
3) Target: The target price for the short position is 20,079, and then to 19,707.50.
4) Price Action Insight:
5) Market Behavior:
- Primary Entry: Between 20,542.50 and 20,520.25. If price is rejected here, expect consolidation around 20,484.25 before a drop.
- Secondary Entry: If price is not rejected at the primary entry, the next short opportunity is around 20,662.25.
2) Bias:
- Short Bias Remains: The short bias holds as long as the price stays below 20,680.00. If the price rises above this level, the short bias is invalidated.
- The short bias is supported by the lack of a solid long foundation below 20,206.25.
3) Target: The target price for the short position is 20,079, and then to 19,707.50.
4) Price Action Insight:
- Wicks above 20,602.25 can offer a good short entry.
- Pay attention to the higher time frame (HTF) candles closing and opening near these levels.
- Consider whether prices move outside of the Bollinger Bands or just touch the 4-hour top bands while stretching the 1-hour.
5) Market Behavior:
- The current price action is forming bull flag consolidations but is likely to head straight toward the short levels, potentially reaching above 20,538.25.
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