Mana - MMXM - possible distribution set up
Long-term Perspective:
The Draw on Liquidity is to the downside: 0.9$ and 0,61$
anything above like the Buy Side Liquidity (BSL) around 1.137$ is short term.
=> The Plan is to look for distribution price action (MMSM) after market take out the stops around 1.137$
Intermediate-term Perspective:
The market shows already a msb after taking out intermediate-term Liquidity. Not sure if this is the final top. I want to see a stop hunt of that liquidity of one level higher (1.137$) before entering shorts.
The Draw on Liquidity is to the downside: 0.9$ and 0,61$
anything above like the Buy Side Liquidity (BSL) around 1.137$ is short term.
=> The Plan is to look for distribution price action (MMSM) after market take out the stops around 1.137$
Intermediate-term Perspective:
The market shows already a msb after taking out intermediate-term Liquidity. Not sure if this is the final top. I want to see a stop hunt of that liquidity of one level higher (1.137$) before entering shorts.
Additionaly the H1 left a FVG on that msb which increases the probability of a possible short play. Hence I look for a lower high rejection from that fvg targeting the previous day New York Stops.