After the rapid downward movement we saw on Monday during the Asian and London sessions, the price has fallen into a range.
As we know, ranges generate liquidity on both sides, and in theory, they're not difficult to trade. But in the current context, and since we're in a distribution week, the question is: how far can the price spread?
Exactly, I don't know... Nobody knows. But I'll be keeping an eye on the September weekly lows (PWL) and the monthly open (MO).
On the upside, this Tuesday's high coincides with the weekly imbalance (FVG-W), in addition to creating a daily imbalance (FVG-D). For now, that's the liquidity I'll be watching.
I won't leave any projections today.
If I make any trades, they will be short-term, and will depend greatly on the timing and price action.
We're in a trap zone, both price-wise and time-wise.
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