Analyzing daily, 4 hour levels & order blocks and combining it with Volume Profile we can see nice zones where we'll have good R:R situations. Price already moved up and reached that 4HR OB but I'm not looking to open shorts here because it would give me a very bad R:R.
I'm more looking at the Point of Control - POC ($6,507) and near daily level ($6,560) where I expect to have a lot of resistance. This is also near the 0.705 Fib retracement, also called the Optimal Trade Entry - OTE. If it doesn't hit those levels and keep dumping, I'd be happy to let my short from the upper 6ks run.
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I'm more looking at the Point of Control - POC ($6,507) and near daily level ($6,560) where I expect to have a lot of resistance. This is also near the 0.705 Fib retracement, also called the Optimal Trade Entry - OTE. If it doesn't hit those levels and keep dumping, I'd be happy to let my short from the upper 6ks run.
Don't forget to hit the LIKE/FOLLOW button if you want to support my work and show your approval to what I do !
