As seen in my last Analysis prices moved as expected even tho I didnt enter at the top zone. Still the Setup is in place and I just had to shift my arrows slightly to the left to see how accurate it is fittign. It even mathches with the fiv retracement. By that means the next signal appears to be a short down to the overall Weekly Supportzone.
Trade active
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Entered the short on the pip, after the liquidity spike. No bragging needed, strategy worked out well this time. Lets see how it developes.
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We are monitoring prices on H4 and want to see a last bullish spike to half of the range before going lower below support. Why? Because then we know big institutions want to create lower prices and therefor need liquidity to make the move.
Shorttrade is still runnning.
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The spike showed up to hunt StopLosses and to form the second shoulder. Pattern and structure looks bearish now and we are still in the trade but didnt move the SL so far. A close below 1922 is a signal to move SL to break even. Lets see how it developes the rest of the week.
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The liquidity hunt continued and stopped us out on the pip. What a spike!... market makers always look for the point of biggest pain. So where we placed our SL was technicaly good but many other SL were with us and so the most liquidity was at that price (1975).