Price is retracing into a supply zone after a strong bullish expansion, showing signs of exhaustion near previous resistance. The current move looks like a pullback into liquidity, where sellers may step in.
A rejection from this zone could trigger a lower high formation, shifting short-term momentum to the downside. If the supply holds, price is expected to continue with a bearish leg targeting the 1.3400–1.3380 liquidity area.
Plan:
Short on confirmation within the highlighted supply zone, targeting lower liquidity levels while maintaining risk above the recent swing high.
A rejection from this zone could trigger a lower high formation, shifting short-term momentum to the downside. If the supply holds, price is expected to continue with a bearish leg targeting the 1.3400–1.3380 liquidity area.
Plan:
Short on confirmation within the highlighted supply zone, targeting lower liquidity levels while maintaining risk above the recent swing high.
Trade active
See how 1st tp is reached and then retraced and then again coming back downwards
Trade closed: target reached
All tp smashed
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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.