On this trade I am looking for a scalp with the local downtrend - This is a scalp so I am looking for aggression coming into this area and will take quick take profits and move stop to entry. The area is a local impulse down value area low combined with the .382 fib and a local deviation fib - idea is based on if we are currently having a small retrace on an impulsive downwards move - hence retracing to the .382 fib before going lower. If we reject off this level we have a 90% chance of taking out the recent impulse lows.
Comment:
price took the liquidity - came back below closing 15min candle underneath my short zone - took the trade and closed the trade as planned