Monthly: Bearish. Even though price has not entered my sell zone between 131.5 and 135.3, there is a divergence on the monthly TF. So, there is a chance that market will start to drop before reaching my ideal sell zone.
Weekly: Bearish . Same reasoning as the above.
Daily:
H1: Market made a Break of Structure (BOS) which acts a confirmation for market to drop further. Waiting for price to re-enter the POI zone before we can place a trade.
Considering that my bias is a strong bearish, the following price points would be the areas that I would be interested to sell and stack my positions.
Entry 1: 130.60
Entry 2: 131.00
Entry 3: 131.50
SL: 130.95 (I don't use SL because I will stack my positions until it goes to my direction).
TP: 124.00
Weekly: Bearish . Same reasoning as the above.
Daily:
- Bearish divergence.
- There is a signifcant increase in the buying volume on 21/April/2022, but the body of the candle is small, indicating a sign of weakness in the uptrend.
H1: Market made a Break of Structure (BOS) which acts a confirmation for market to drop further. Waiting for price to re-enter the POI zone before we can place a trade.
Considering that my bias is a strong bearish, the following price points would be the areas that I would be interested to sell and stack my positions.
Entry 1: 130.60
Entry 2: 131.00
Entry 3: 131.50
SL: 130.95 (I don't use SL because I will stack my positions until it goes to my direction).
TP: 124.00
Trade active:
Stacking a sell position at 131.