The 125.39 is a crucial price level for my short trade to keep going. This level is critical because itís the weekly bearish trend defense level (WBTDL) where in case price breakthrough and close above the weekly bearish main trend will alter to an uptrend. Last week, sellers left their footprint on the chart, the weekly BEEOC, which according to SPA criteria was a valid setup to join. However, The WBTDL was promptly identified in the pre-trade analysis as the upper boundary of the weekly negative free zone (-WFZ). Therefore, under the protective shield of the weekly bearish controlling candle (valid from SPA), I took a quite large risk on predefined price levels to initiate short positions. Concluding, the current trading day is crucial for the outcome of my risk taking as more data needed on the chart to be able to estimate future price action.
Attached Image (click to enlarge)
Every so often wrong and sometimes right but always honest. MV