Short drop potential for this week.
I screwed my screen yesterday and ended up in a two screen view which looks crappy.
This one is isolated.
Of note, at the time I had two plans, one was to get long AFTER a tap on green pivot then go long. This occurred yesterday. I left the micro yellow arrow there for continuity but it is not much of an option at this point. if price drops to the green pivot again, I would not be surprised to see a candle go below it.
That being said, I still have a long bias for the time being. However, if price has a hard time moving past the area where it is in right now, there could be a possibility of an imminent drop of 200 pips or more. Note that price could pop close to the blue pivot above and start the drop from that level.
I have no idea what will happen. I just have a few scenarios in mind.
This one is isolated.
Of note, at the time I had two plans, one was to get long AFTER a tap on green pivot then go long. This occurred yesterday. I left the micro yellow arrow there for continuity but it is not much of an option at this point. if price drops to the green pivot again, I would not be surprised to see a candle go below it.
That being said, I still have a long bias for the time being. However, if price has a hard time moving past the area where it is in right now, there could be a possibility of an imminent drop of 200 pips or more. Note that price could pop close to the blue pivot above and start the drop from that level.
I have no idea what will happen. I just have a few scenarios in mind.
Note
Example of what I mean by short accumulation before a drop:
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.