Price is nicely rejected off the trench but reaching a Cluster of ICs (COCs). The intraday control is also at the bottom of the candle, which means there is a lot of fighting at this price. I will not be surprised if price if being rejected, therefore I will have a short entry at near the top of the trench for a good LRE where it confluences with the POE and a major resistance.
I will also short if price is able to break the COCs and off the trench as a 2nd scenario.
I will also short if price is able to break the COCs and off the trench as a 2nd scenario.
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