USDTHB POTENTIAL SHORT OPPORTUNITY
Hey everyone! Hope you're having a blessed weekend! Wanted to come on here and make a post for a potential short opportunity I see here on USDTHB (THAI BAHT). So when taking a look at this chart on the higher TF (context) you can see that price has been rising for quite some time. Showing us that prices are due for a correction of some sort, even potentially a reversal. When looking at the 1D timeframe we can see price has just recently come into a fresh supply level. Some of you may be familiar with supply and demand represented on the charts but there is POWER in understanding how to read supply and demand and combining it with price action! Truly supply and demand is how every single "market" on planet earth works! So when looking at this and seeing it's sitting at this level it gives us better idea and better context of where price action is at, which is HUGE in trading, I mean it is absolutely crucial for your trading.
SO on the 4H timeframe what have we now seen? SIGNS OF A SHIFT. 4H had massive bearish leg to downside. Broke higher low structure (showing seller coming in strong and potential dominance), failed to make a higher high, and strong momentum; or I like to say INTEREST. Okay so we have signs pointing to a potential reversal here if anything another push to downside into demand I have marked off at "TP1" which has a lot of confluence as well.
So what are we looking for? Well you can see my chart for the comments I put but I am personally waiting for price to give me a pullback (discount) for an opportunity to participate with the potential seller shift here. Watch for price to come into the lower TF supply on the 4H TF and look for seller strength to (return & hold) price from moving higher; with strong seller momentum.
OK so I know long explanation but great potential setup here coming into this next and next few weeks so keep eye out! Cheers!
P.S. IT HAS POTENTIAL TO RUN DAILY HIGHS AS WELL BEFORE POTENTIALLY REVERSING. NOT AS LIKELY BUT KEEP EYE OUT. LET PRICE ACTION SHOW YOU
Cheers!!! GOD BLESS!
SO on the 4H timeframe what have we now seen? SIGNS OF A SHIFT. 4H had massive bearish leg to downside. Broke higher low structure (showing seller coming in strong and potential dominance), failed to make a higher high, and strong momentum; or I like to say INTEREST. Okay so we have signs pointing to a potential reversal here if anything another push to downside into demand I have marked off at "TP1" which has a lot of confluence as well.
So what are we looking for? Well you can see my chart for the comments I put but I am personally waiting for price to give me a pullback (discount) for an opportunity to participate with the potential seller shift here. Watch for price to come into the lower TF supply on the 4H TF and look for seller strength to (return & hold) price from moving higher; with strong seller momentum.
OK so I know long explanation but great potential setup here coming into this next and next few weeks so keep eye out! Cheers!
P.S. IT HAS POTENTIAL TO RUN DAILY HIGHS AS WELL BEFORE POTENTIALLY REVERSING. NOT AS LIKELY BUT KEEP EYE OUT. LET PRICE ACTION SHOW YOU
Cheers!!! GOD BLESS!
Order cancelled:
This one is cancelled for me never gave pullback into supply on the 4H. Cheers!