We are looking for sell opportunities as this market is bearish.
Typically the 88.6% fib is an optimum price point. but there are areas of imbalance where I see price going to that can be points of entry.
Imbalance can be at the 50% of an institutional candle (IC) or a retest of a breakout/wick
Entry- I've listed 3 entry points for this short.
Divergence - we can also see divergence on the RSI .ie The oscillator is showing a bearish direction and the price action is showing a bullish direction which indicates, a short may be coming
Take Profit - Will be at the breakout level of the consolidation. This breakout has not been retested
Typically the 88.6% fib is an optimum price point. but there are areas of imbalance where I see price going to that can be points of entry.
Imbalance can be at the 50% of an institutional candle (IC) or a retest of a breakout/wick
Entry- I've listed 3 entry points for this short.
Divergence - we can also see divergence on the RSI .ie The oscillator is showing a bearish direction and the price action is showing a bullish direction which indicates, a short may be coming
Take Profit - Will be at the breakout level of the consolidation. This breakout has not been retested