potential shorts

Oct 4, 2022

in the monthly tf, price is in the second and final impulsive leg( the C D leg of the trend) of the of the trend. within the third leg that is showing on the weekly/ monthly tf, there's a visible trend, and the price is in the pull back phase of the trend. the supply zone that i marked is valid because of this, even though is located below a zone filled with liquidity and a liquidity pool right above, which will cause price to invalidate the first supply and the resistance above to tap in to the liquidity pool. the second supply zone is more valid because its located in the golden pocket of the fib, its between the 62 and 71 fib levels. its also where the long term pull back may end since price is in the correction phase waiting for the final impulsive leg.