Context
After a sharp downward move, price consolidated and then ran upward to trap liquidity. We’ve retraced at least 50% of the previous range and swept the Previous Day’s High (PDH). This suggests a potential shift back toward the downside.
Thesis
The liquidity grab above PDH sets the stage for a bearish continuation. I’m waiting for a stronger CISD (Change in State of Delivery) confirmation before entering short. The main target is the Previous Month’s Low (PML), which remains untested by a few pips.
Plan
Entry: After a clear CISD signal on lower timeframes.
Targets:
TP1: Mid-range liquidity
TP2: PML
Risk Management: Stop-loss above PDH or the liquidity sweep zone. Aim for a favorable R/R ratio.
Alternative Scenario
If price fails to confirm CISD and reclaims PDH with momentum, expect continuation higher toward untapped liquidity pools.
Call-to-Action
💬 Do you expect a clean drop to PML or more upside before reversal? Share your thoughts below!
After a sharp downward move, price consolidated and then ran upward to trap liquidity. We’ve retraced at least 50% of the previous range and swept the Previous Day’s High (PDH). This suggests a potential shift back toward the downside.
Thesis
The liquidity grab above PDH sets the stage for a bearish continuation. I’m waiting for a stronger CISD (Change in State of Delivery) confirmation before entering short. The main target is the Previous Month’s Low (PML), which remains untested by a few pips.
Plan
Entry: After a clear CISD signal on lower timeframes.
Targets:
TP1: Mid-range liquidity
TP2: PML
Risk Management: Stop-loss above PDH or the liquidity sweep zone. Aim for a favorable R/R ratio.
Alternative Scenario
If price fails to confirm CISD and reclaims PDH with momentum, expect continuation higher toward untapped liquidity pools.
Call-to-Action
💬 Do you expect a clean drop to PML or more upside before reversal? Share your thoughts below!
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.