GALA Choses Short scenario
I shared previously both scenarios and was leaning toward red, simply given the fact we had a harsh rejection at the above bearish ob in red, with candle closes below and wicks above.
We then lost the s/r as support, made a LL and broke market structure increasing the drop momentum down to my target almost perfectly, just quicker than I had anticipated!
Now bouncing off support OB and will want this to hold in the short term, I expect it should and we see some chop in this area.
A nice play if you shorted this for 16% roughly in profit!
NOW? I'd be longing this off the bottom bounce if looking to trade, waiting for a retest as confirmation though.
Cheers
We then lost the s/r as support, made a LL and broke market structure increasing the drop momentum down to my target almost perfectly, just quicker than I had anticipated!
Now bouncing off support OB and will want this to hold in the short term, I expect it should and we see some chop in this area.
A nice play if you shorted this for 16% roughly in profit!
NOW? I'd be longing this off the bottom bounce if looking to trade, waiting for a retest as confirmation though.
Cheers
Vatsik
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