Unveiling My Local Plays! 20/3/24
Here are my local trade ideas, listed in the order they may occur:
🔍 Setup 1: This involves taking a second short position after a retracement. Confirmation comes from a clear shift in market structure on a 5-minute chart, coupled with a sweep of a prior high. Essentially, we're waiting for the market structure to change. If this happens, Market Cipher should also indicate a bearish divergence.
🚀 Setup 2: This setup relies on a reaction from the old 4-hour range high ($65662). Confirmation criteria are the same as Setup 1, but instead of looking for a bearish shift in market structure, I'm anticipating a bullish one.
📊 Setup 3: This trade is based on a reaction from the last internal range, coinciding with the value area high and point of control ($63177 - $64373). For Fibonacci enthusiasts, I am sure this aligns with a notable Fibonacci area. Confirmation remains the same as the previous setups.
⚠️ If we surpass the point of control (POC) on a bearish move, it could indicate a deep retracement, deeper than what I'd ideally like to see.
🚀 Follow for more insights and updates!
🔍 Setup 1: This involves taking a second short position after a retracement. Confirmation comes from a clear shift in market structure on a 5-minute chart, coupled with a sweep of a prior high. Essentially, we're waiting for the market structure to change. If this happens, Market Cipher should also indicate a bearish divergence.
🚀 Setup 2: This setup relies on a reaction from the old 4-hour range high ($65662). Confirmation criteria are the same as Setup 1, but instead of looking for a bearish shift in market structure, I'm anticipating a bullish one.
📊 Setup 3: This trade is based on a reaction from the last internal range, coinciding with the value area high and point of control ($63177 - $64373). For Fibonacci enthusiasts, I am sure this aligns with a notable Fibonacci area. Confirmation remains the same as the previous setups.
⚠️ If we surpass the point of control (POC) on a bearish move, it could indicate a deep retracement, deeper than what I'd ideally like to see.
🚀 Follow for more insights and updates!