$ZHIPU swept liquidity above 77.69 in this move. I think it was a trap set in a downtrend. It’s down 1.2% over 24 hours, and I don’t think it can bounce from here.
I’m personally leaning bearish: the 1-hour structure is clearly in a downtrend, with lower lows and lower highs all the way down. The swing indicator and the price action staying below the EMA both confirm that. And then there’s that 15-minute candle with the upper wick…
I’m personally leaning bearish: the 1-hour structure is clearly in a downtrend, with lower lows and lower highs all the way down. The swing indicator and the price action staying below the EMA both confirm that. And then there’s that 15-minute candle with the upper wick…