For a potential reverse trade (short) from the current price levels, focusing on the confluence of the weekly and daily FVG, here are the key points to consider:
Entry Conditions for #SHORTđ :
1. Price Rejection from Weekly FVG (Blue Zone):
- Wait for confirmation of #PriceWatch rejecting the (Weekly FVG) zone (blue), with a strong rejection candle or wick above the zone.
- If price fails to break and close above 0.739 USDT, it may signal weakness and a good short opportunity.
2. Look for #BEARISHđ Structure:
- Confirmation of a shift in market structure (lower high formation on smaller timeframes, such as 15m or 1H, indicating potential for reversal).
3. FVG Reaction on Lower Timeframes:
- Monitor the Fair Value Gaps (FVGs) within the Daily FVG (green zone) on lower timeframes. If price enters and starts filling the gaps, it signals potential liquidity for a downward move.
#targeting Levels:
1. First Target:
- 0.660 USDT: This is within the Daily FVG zone, where you can partially close your position or take profit.
2. Second Target:
- 0.600 USDT: This aligns with the next major liquidity area or demand zone on the chart.
3. Final Target:
- 0.524 USDT: The low point marked on the chart, this could be a final target if price continues to reject and break support levels.
Stop Loss:
- Above 0.739 USDT: Place a stop-loss slightly above the weekly FVG (0.739) or based on your risk tolerance.
By waiting for price reactions and applying your Smart Money Concepts (SMC) or ICT techniques, you'll be able to optimize this reverse short trade.
Always wait for a clear confirmation before entering a tradeânever chase the price. Stick to your plan and respect liquidity zones to maintain precision and avoid emotional decisions.
Let me know if you'd like further details!
