TATAELXSI : Looking for a Breakdown Price Action Structure
We have a big consolidation order-flow structure here & current price is testing the key support or bottom of that particular structure currently. Even though we’re sitting right on a key support, i’m not much interested for an upwards trade right from here looking at the order-flow strength & structure in existing swing. The 2nd chart below shows how the price is just cutting through all the supports into pieces right from the start of the move – That’s STRENGTH from the bears. So, i’ll try to position my trades in this towards downside alone till a reversal bounce from buying side is not showing up from this bottom we made so far. Preferably the current support Breakdown will add up more spice into the bearish view trade entries here onwards.
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