OP short - scalp trade As noted with the purple box, after being taken out on yesterday's OP trade, I manage to scalp two good short trades in the leg down (retracement after the break of highs)
This zone will be fundamental for pa to see if we cap price around these levels and send it lower
Ideally we would want to see prices go lower considering the choppiness and failure to create strong and clean higher highs from an overall perspective. The market has been pushing up but as most often in the month of August the thin books and liquidity fail to delivery impulsive pa - history does not always repeat itself but it does have the tendency to instill certain principles and rules
For the time being the choppiness and indecisiveness of the market has been sluggish and pretty slow to build.
Keep an eye on DXY for confluence and let's see what the market gives us today.
Stay safe and never risk more than 1-5% of your capital per trade. The following analysis is merely a price action based analysis and does not constitute financial advice in any form.
