Price is in a range but down trending on the 1H
Price has retraced to 50% of the downward move and taken out Stop losses from the consolidation.
We are looking to continue to the sell.
Could do with a wider SL in case it retraces to rebalance the bearish ICs above but if taken out, we will re-enter from above
£ = liquidity resting point (where stop losses and buy/sell stops are held)
X = the liquidity has been taken out by the banks
Price has retraced to 50% of the downward move and taken out Stop losses from the consolidation.
We are looking to continue to the sell.
Could do with a wider SL in case it retraces to rebalance the bearish ICs above but if taken out, we will re-enter from above
£ = liquidity resting point (where stop losses and buy/sell stops are held)
X = the liquidity has been taken out by the banks
Comment:
widening SL
Trade closed: target reached:
beautiful play