Let's start by analyzing the monthly timeframe as today's the first day of the month and the start of the monthly candle. The previous monthly candle closed with a strong bullish price action as we can see as it closed with an almost full candle which mean price is likely to rise further, but whether it will directly ascend or will it crash to clear buy volumes and causing a major liquidation first before pulling back and ascending again. So if it's gonna crash first, the first wick in the monthly timeframe that we see the price going to would be the February's high wick at 2,956.31. That would be the 1st buy limit for those trading the monthly timeframe because if it is still gonna rise further than the latest All Time High, it's gonna bounce from that wick before ascending again.
Here we can also see the monthly time-frame high wick at 2,956.31 is also the high wick in the weekly time-frame before breaking above and it hasn't come back to clear since which means this is also a possible clearing spot in the weekly time-frame and since it is also the high wick before breaking above and rising, it'll be the best supply to place a buy limit order which is also kinda like a key level in both the monthly and the weekly time-frame. But another thing I would like to add is that this supply(The theory I'm using call high and low wick a supply) is 2 weekly support away from the current price which means it is quite a challenge for it to reach this spot, but if it crash but can't manage to break 2 weekly support, we'll still be able to place buy limit orders using the supply from the daily and the 4 hour time-frame instead. Because to be honest that supply is quite far from here distancing about 17 thousand points or pips.
The 4 hour time-frame just initiated a reversal from the previous candle which is also a successful reversal, but is still incomplete. Though it isn't completed yet, price action shows signs of price crashing descending further due to the market still haven't cleared enough buy volumes and to descend further, and to descend the market first needs to raise the price to clear sell volumes but without touching the next resistance(touching the next resistance means accumulating more sell volumes which means price need to rise further.). So to sell now if the price rises up clearing volumes again isn't wrong, but it may go against your order as the reversal isn't complete yet, so by entering a trade when the reversal isn't complete yet isn't any different from gambling.
