Nice area o watch for a short opportunity. The price is approaching the Daily supply zone (Major structure), the strong momentum to the upside is giving us some clues on the area acting like a magnet (zone of high liquidity). The RSI is already in its extended area.
1 - The agressive way to enter this trade is to short on a limit order in the purple box.
2 – Wait for a confirmation on lower timeframe (1H-15Min) once the price enter the supply zone (Big red box) to find a reason for entry :
-double top with RSI extended/Divergence –
- Breakout strategy (Flag, pennant…)
- Advanced pattern (Cypher, Bat, Gartley)
Good luck and happy trading
1 - The agressive way to enter this trade is to short on a limit order in the purple box.
2 – Wait for a confirmation on lower timeframe (1H-15Min) once the price enter the supply zone (Big red box) to find a reason for entry :
-double top with RSI extended/Divergence –
- Breakout strategy (Flag, pennant…)
- Advanced pattern (Cypher, Bat, Gartley)
Good luck and happy trading