One (in my opinion) possible option for a short trade;
The grey colored Daily Demand zone is tested twice and absorbed.
The Daily Demand is still in control but the upcoming Daily Supply is fresh. Price should react there.
From the recent (fresh) Daily Demand up, the price haven't been respected and if it hit the fresh Daily Supply first, the price should pull back to that price (target 1) before it reaches the fresh Daily Demand (target 2).
Lets see what the price does on a lower timeframe as soon it hits the Daily Supply.
The grey colored Daily Demand zone is tested twice and absorbed.
The Daily Demand is still in control but the upcoming Daily Supply is fresh. Price should react there.
From the recent (fresh) Daily Demand up, the price haven't been respected and if it hit the fresh Daily Supply first, the price should pull back to that price (target 1) before it reaches the fresh Daily Demand (target 2).
Lets see what the price does on a lower timeframe as soon it hits the Daily Supply.
Note
Adjusted my view...
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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.