Shorts are still strong, Look for high price for entry - 1) Short Entry Levels:
Primary Entry: Between 20,542.50 and 20,520.25. If price is rejected here, expect consolidation around 20,484.25 before a drop.
Secondary Entry: If price is not rejected at the primary entry, the next short opportunity is around 20,662.25.
2) Bias:
Short Bias Remains: The short bias holds as long as the price stays below 20,680.00. If the price rises above this level, the short bias is invalidated.
The short bias is supported by the lack of a solid long foundation below 20,206.25.
3) Target: The target price for the short position is 20,079, and then to 19,707.50.
4) Price Action Insight:
Wicks above 20,602.25 can offer a good short entry.
Pay attention to the higher time frame (HTF) candles closing and opening near these levels.
Consider whether prices move outside of the Bollinger Bands or just touch the 4-hour top bands while stretching the 1-hour.
5) Market Behavior:
The current price action is forming bull flag consolidations but is likely to head straight toward the short levels, potentially reaching above 20,538.25.
