Everything I do is based on my own Point of View
Liquidity Zones : Marked liquidity areas both above and below the current price range. The “LIQUID HERE” labels suggest that these are zones where price is likely to be drawn due to stop-loss orders or other pending orders from retail traders.
Potential Reversal Structure : In the top liquidity zone, there's a red zone where price has recently moved into and started to pull back. The yellow lines show a potential double-top pattern or a head-and-shoulders structure forming. This implies that if price fails to break above the upper liquidity area, a reversal downwards might occur, targeting lower liquidity.
Targeting Lower Liquidity : If the price does reject the upper liquidity area, it could be aiming for the lower liquidity area marked at around the 74,800 level. This area may serve as a potential take-profit (TP) zone if you're considering a short position.
Market Context : The recent price action shows a strong move up, followed by a pullback and a test of the resistance zone. This could either be a distribution phase before a reversal or consolidation for a possible continuation upwards.
Trading Plan : If you're looking to take a trade here, setting a stop-loss just above the upper liquidity zone could help limit risk. On the downside, the lower liquidity zone could serve as a take-profit target if price starts to drop.
Overall, watch for confirmation before taking a position, as price could either reverse here or continue up to break the resistance.
