Price has been consolidating for a few months. Price recently gapped above and took liquidity at 1540 but is unable to close above. Price is on a downtrend since then. Right now, we see the price built sell-side liquidity. This might be a short-term bearish target and price might target further to the lows at 1242. But first, price is more likely to fill the fair value gap at 1481 before we see any reaction downside.
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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.