My trade idea is bearish as there are more confluences that are showing expected bearish price action than Bullish.
Below are my confluences as to why I expect price to drop:
- Price has reached a Bearish Orderblock that has not been violated as the previous hour candle body did not close above the orderblock.
- There is a Fair Value Gap around $18800 price action.
- Just above the FVG, there are equal lows that creates a Buy Side Liquidity to be raided.
- The overall market structure is Bearish (based on the Daily, Weekly and Monthly Timeframes).
- Price has rallied to raid the SSL (denoted by the tick in the trade idea) which was rest just above current price which then allows the algorithm to target the BSL next.
With that said, Happy Trading
Below are my confluences as to why I expect price to drop:
- Price has reached a Bearish Orderblock that has not been violated as the previous hour candle body did not close above the orderblock.
- There is a Fair Value Gap around $18800 price action.
- Just above the FVG, there are equal lows that creates a Buy Side Liquidity to be raided.
- The overall market structure is Bearish (based on the Daily, Weekly and Monthly Timeframes).
- Price has rallied to raid the SSL (denoted by the tick in the trade idea) which was rest just above current price which then allows the algorithm to target the BSL next.
With that said, Happy Trading