- Generally, the price has been on a downtrend at higher timeframes. The move to the upside is just a retracement which is now over.
- The price retraced and touched the Optimal Trade Entry (OTE) level on the fibs as it retested the breaker and at the same time it took out the previous equal highs. Doing so in a supply zone gives me more assurance to pull the trigger and go short.
- Additionally, there is a liquidity void that needs to be filled on the downside. I recommend that you apply proper risk management if you are to take this trade.
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