I took the higher supply range from the last 1h candle before bearish breakout aka Bearish Engulfing. I dragged the zone from the high point of the 1h candle to the low point. Now the idea is to wait for the price to retrace back to that zone and the short entry would be set at the lowest point of that range, with a limit order. Stop loss should be set just above the upper end of that supply zone.
Target is based off of 1h-4h demand zone, from where huge liquidity and volume came in to the market, pushing price up towards the new high where our current supply zone is marked. I would wait for price to reach that level.
Risk as always up to 1%.
RR on this setup currently 1 to 11.57, giving a 11,57% return on 1% risk.
I have not taken any fundamentals into consideration.
Simply testing this strategy.
Target is based off of 1h-4h demand zone, from where huge liquidity and volume came in to the market, pushing price up towards the new high where our current supply zone is marked. I would wait for price to reach that level.
Risk as always up to 1%.
RR on this setup currently 1 to 11.57, giving a 11,57% return on 1% risk.
I have not taken any fundamentals into consideration.
Simply testing this strategy.