UC has created advanced situation.
First of all we are in a down trend. After price reached 1.618 of higher timeframe fibo extension level we saw strong push up. So technically we should look for longs, but I've noticed that price hasn't reached bullish 1D order block. So for me its little bit early to look for buys at the moment. So keeping in mind this thought I've started to look for short entries.
First of all I've pointed liquidity zones, after OBs.
As you can see 1H OB- stands just at fibo 2.0 extension level also near this zone we can see a trend line so for me this order block is more valid than the higher 2H OB+.
BUT! I don't like 2 candles that have created double top pattern (red arrow) at the level - 0.93169. For me that is LQD zone.
So the most safest entry in my opinion would be be at 2.0 fibo level - 0.93065
SL above LQD zone somewhere at 0.93440.
TP 1D OB+. But I can be wrong that price is still bearish so I would take partials At fibo levels:
1.0 (0.91828)
0.5 (0.91210)
0.0 (0.90591)
Just incase price will start rising.
Good luck:)
First of all we are in a down trend. After price reached 1.618 of higher timeframe fibo extension level we saw strong push up. So technically we should look for longs, but I've noticed that price hasn't reached bullish 1D order block. So for me its little bit early to look for buys at the moment. So keeping in mind this thought I've started to look for short entries.
First of all I've pointed liquidity zones, after OBs.
As you can see 1H OB- stands just at fibo 2.0 extension level also near this zone we can see a trend line so for me this order block is more valid than the higher 2H OB+.
BUT! I don't like 2 candles that have created double top pattern (red arrow) at the level - 0.93169. For me that is LQD zone.
So the most safest entry in my opinion would be be at 2.0 fibo level - 0.93065
SL above LQD zone somewhere at 0.93440.
TP 1D OB+. But I can be wrong that price is still bearish so I would take partials At fibo levels:
1.0 (0.91828)
0.5 (0.91210)
0.0 (0.90591)
Just incase price will start rising.
Good luck:)