ETH Short as Possible HTF Retracement
Daily Bias: Bearish
Plot:
Strong Bearish Candle with huge FVG breaking structure into the NY Close yesterday.
HTF Equal Lows and HTF Old Swing Low are difficult to ignore.
Additionally, Large FVG with Bullish OB in 1 HR TF below.
Price seem to be taking the time to setup its move leaving a small FVG above the Asian Range for a classic Short Setup into the London Open.
Targets can go directly towards the Bearish OB or FVG within the day or May find another consolidation below the HTF Equal Lows and HTF Old Swing Low Price Arrays of Value.
Plot:
Strong Bearish Candle with huge FVG breaking structure into the NY Close yesterday.
HTF Equal Lows and HTF Old Swing Low are difficult to ignore.
Additionally, Large FVG with Bullish OB in 1 HR TF below.
Price seem to be taking the time to setup its move leaving a small FVG above the Asian Range for a classic Short Setup into the London Open.
Targets can go directly towards the Bearish OB or FVG within the day or May find another consolidation below the HTF Equal Lows and HTF Old Swing Low Price Arrays of Value.
Comment:
Short Setup appears in the London Open right at the top of the Asian Range respecting recent gap mitigation. This will be a short scalp towards previous day's Low. Need to be careful as DXY is on a terribly bearish momentum on the higher time frames.
Comment:
Stopped out by an inducement trap and initial reading of price course plays out perfectly. Found a clean setup after price cleanly takes out the Asian Range High. Targeting Asian Low or may reach previous day's low.
Trade active:
Price is currently running the liquidities sell side with very high momentum and may reach the ultimate target within the day. If price consolidates and does not reach the ultimate target before NY Session ends, I will close the trade in large profit.