Now that the Bears have officially closed back inside the Current Range, the expectation is a move toward the range low.
Since price is sitting on the premium side of the range, shorts are still the favored trades, at least until we reach the discount side.
But take a closer look, because the Bulls might have something to say about that.
If they truly found a bottom at the golden pocket, we could see them step back in with strength and push price all the way back to the range high to continue the uptrend.
However, if the Bulls can’t build enough momentum from this level and fail to get a break of structure, they may step aside and let the Bears drive price lower.
And honestly, that might be the better play.
Because if price gets pushed back down into that 1D Order Block, it sets up a much cleaner and higher probability long.
At that point, we would likely be deep in the discount zone, with the silver pocket, adding strong confluence.
Now stack that with the Local POC and the Local VAL lining up with the 1D Order Block, and this zone starts to look very attractive.
This is what you call a high probability area.
The kind of setup traders wait for.
The kind of setup that puts pressure on the Bears, because breaking through a zone like this is not easy.
You really could not ask for a cleaner setup.
But let’s keep it real, anything can happen in this game.
There is always the chance the Bears come in strong and slice right through this zone without hesitation.
So when price reaches this A1 zone, make sure you have your confirmations.
No guessing, no forcing trades.
Let the market show its hand, then make your move.
Since price is sitting on the premium side of the range, shorts are still the favored trades, at least until we reach the discount side.
But take a closer look, because the Bulls might have something to say about that.
If they truly found a bottom at the golden pocket, we could see them step back in with strength and push price all the way back to the range high to continue the uptrend.
However, if the Bulls can’t build enough momentum from this level and fail to get a break of structure, they may step aside and let the Bears drive price lower.
And honestly, that might be the better play.
Because if price gets pushed back down into that 1D Order Block, it sets up a much cleaner and higher probability long.
At that point, we would likely be deep in the discount zone, with the silver pocket, adding strong confluence.
Now stack that with the Local POC and the Local VAL lining up with the 1D Order Block, and this zone starts to look very attractive.
This is what you call a high probability area.
The kind of setup traders wait for.
The kind of setup that puts pressure on the Bears, because breaking through a zone like this is not easy.
You really could not ask for a cleaner setup.
But let’s keep it real, anything can happen in this game.
There is always the chance the Bears come in strong and slice right through this zone without hesitation.
So when price reaches this A1 zone, make sure you have your confirmations.
No guessing, no forcing trades.
Let the market show its hand, then make your move.
Red Elephant
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
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.
Red Elephant
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
Need More TA? The Elephant Jungle: redelephant818.substack.com/?utm_campaign=profile_chips
Trade On KCEX Lowest Fees: kcex.com/register?inviteCode=TV04VP
Follow On X (Twitter): x.com/RedElephant818
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.