Hello Traders,
Have approached a monthly supply zone (marked with red). Price is meant to reach this level. Due to the fact that this is obvious to everyone, price manipulation will have to happen to ensure people are liquidated before the sell-off.
One way the market does this price manipulation is to induce people and form a liquidity pool that it will sweep before the bearish expansion.
As marked on my chart, you will notice that there is buy-side liquidity just below the monthly supply zone. Once the price sweeps this liquidity, I would have liquidated enough people before the selling begins.
I will advise you to wait and see how the price reacts to this zone before you decide to look for a bearish setup to trade.
Follow me for more updates like this.
Cheers,
David
Have approached a monthly supply zone (marked with red). Price is meant to reach this level. Due to the fact that this is obvious to everyone, price manipulation will have to happen to ensure people are liquidated before the sell-off.
One way the market does this price manipulation is to induce people and form a liquidity pool that it will sweep before the bearish expansion.
As marked on my chart, you will notice that there is buy-side liquidity just below the monthly supply zone. Once the price sweeps this liquidity, I would have liquidated enough people before the selling begins.
I will advise you to wait and see how the price reacts to this zone before you decide to look for a bearish setup to trade.
Follow me for more updates like this.
Cheers,
David
تم فتح الصفقة:
This pair is still trading inside the consolidation range as expected.