THOSE WHO FOLLOWED ME SHOULD ROUGHLY KNOW WHAT THIS SETUP IS LIKE AND HOW RELIABLE IT CAN BE.
A FAKEY OF THE W1. THIS IS A VERSION OF BULL TRAP.
SELL AT STRENGTH FOR BETTER RISK REWARD. SEE D1 FOR PRICE ACTION.
TRADE INVALIDATED IF PRICE MANAGES TO GO ABOVE 0.774.
the reason this setup is reliable IMO is because the logic behind it is that people will usually put a buy order above/sell order below the inside bar. last week people's buy orders have been triggered but price took a turn to the downside. these traders will realise their mistake and use this week to close their position/ i.e. they will take on sell position.
so we, being the more cautious trader, will take the sell position with them/riding the wave.
hope this clarifies.