I believe the price has reached an overbought stage, and we might see a strong decline towards the specified areas. Currently, the price is in a distribution zone. We could witness a rapid surge to break the selling positions, followed by a continuation of the decline. Therefore, my stop-loss is set to be triggered by the closure of a 15-minute candle above the specified area shown in the image to stop the loss.
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.