The price is currently in the daily MMBM and has retraced from the -1.5 standard deviation level to the Optimal Trade Entry (OTE) zone. I would like to see a confirmed closure above the bearish imbalance, which initially drove the price down to the 0.62 Fibonacci retracement level. A strong close above this imbalance could indicate further bullish momentum and potential continuation toward higher levels.
Trade active
I don't like the idea that it couldn't close above the gap, and the price started dropping quickly.
I will likely sell if it closes below $14.10.
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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.