Opened a short at 1.41734
My reasoning is that a lot of liquidity had built up above all the equal highs over the last couple of days and the short up move just now grabbed it. I think it's more likely to want to go down to the liquidity below the lows rather than go up.
The next area of resistance above it hasn't been touched since the end of February and so anyone with short positions from back then will most likely have closed out their positions rather than sit back and watch it go against them since the beginning of April, so I don't think there's much liquidity up there.
Closest money supply is down, not up.
Of course, I could be wrong
My reasoning is that a lot of liquidity had built up above all the equal highs over the last couple of days and the short up move just now grabbed it. I think it's more likely to want to go down to the liquidity below the lows rather than go up.
The next area of resistance above it hasn't been touched since the end of February and so anyone with short positions from back then will most likely have closed out their positions rather than sit back and watch it go against them since the beginning of April, so I don't think there's much liquidity up there.
Closest money supply is down, not up.
Of course, I could be wrong
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