On H4 , we are shorting near the extreme high of the ED channel.
On H1, we see a completion around that level.
Also, we the level I am looking to short just happens to be at last week's high.
With all these factors in place, I want to monitor the zone between 1.2260 - 1.2270 for a potential short.
I will not use a pending order and I will be looking out for the 2 criterias below to happen before going short.
1. divergence at PRZ
2. reversal in in zone
Will keep you guys posted when it reaches my zone.
Already set an alert on tradingview to update me when it happens.
SL at 1.2320
TP at 1.2160
Good luck guys.
1. 161.8 of BC
2. 88.6/100/113 of XC
Look for RSI divergence at either of the 3 zones before execution.
You can refer to the measurements here.