Lower TF looking heavy closing under some rather large areas of what looked to be distribution. Short term relief expected but I'm not so sure we will see it. I managed to close my previous short and re-entered on a sweet spot approx 9010. I am prepared for a liquidity hunt pump up to 9265. I would look to add to short there. Sentiment seems to be getting bullish on the back of some alts mooning, but IMO it is a suckers rally in order to draw in dumb money. I could be wrong on that mind. Its a tricky range to call and to stay objective about when the madness of the 2018 bull-market lingers in the back of all our minds. However, as I practice more and more and learn, I find that the most complex of situations are usually resolved from a trading perspective by keeping it as simple as I can - my bias remains neutral and I wait for perhaps a 4hr or 12 hrs close to determine direction. As things stand in that regard we just had heavy looking close on the 3hr. So watching from here. The swing high of the daily might be a nice source of liquidity before moving up to previously stated 9200s but that is just a scenario I must be prepared from current position. I remain short for now. Happy trading.
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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.