The price has recently broken below a strong support level and is now trading below it. This bearish breakout suggests further downside potential.
Key Observations:
Strong Support Break: The price has decisively broken below a well-defined support level. This break often signals a shift in momentum and can lead to further price declines.
Liquidity Sweep: A recent liquidity sweep occurred at the support level. This indicates a large order was filled at that level, potentially adding to the selling pressure.
Trade Setup:
Entry: Short sell at the market price near the current level.
Stop-Loss: Place a stop-loss order above the recent swing high, above the broken support level, or at a level that aligns with your risk tolerance.
Take-Profit: Set your tak profit at next Order Block