Bearish move corrected, now we are seeking shorts

31 июл.

Managed to reach our target from the previous trade and now we are gathering a clean rejection from the 4h rejection block, which is in alignment with this 30m supply zone. The focus is now on this emerging bearish market, currently waiting for the current 4h candlestick to close in about to hours so that we can get quite a clear confirmation to go short. Looking for price to clear 2405.00 swing low with a body closure to indicate a shift and confirm this potential bearish market. Should we get this confirmation, then the entry will be between prices 2410.00 and 2420.00 with stop loss slightly about the previous higher high. Ultimately we target the 4h demand zone at 2365.00, also cautious of the internal demand zone which should be regarded as a trap for early buyers. For now we practice patience…