Be aware this trading scenarios are based on the 15min chart.
TLA1 is based on a recent Swinghigh that served as a strong resistance level.
1. Short (Orange arrow)
Requirements: - Price falls below TLA1 - Price moves to S/R Level 1 or falls even deeper - Short opened on retest of TLA1
Target: Recent Swinglow aswell the next Support level (on that timeframe) S-L: See chart - i dont want to see a candle open/close above it
2. Short (Red arrow)
Requirements: - Price goes below TLA1 - Price falls atleast to S/R Level 2 or lower - Enter short on retest of TLA1
Target: HTF Support level and first stop of the recent downtrend S-L: See chart - i dont want to see a candle open/close above it
Good luck
Disclaimer: - This information does not constitute as financial advice and is only for educational purposes. I am not your financial advisor. - You trade entirely at your own risk - Make your own research - Finance and trading is evil, capitalism is bad, duh ;)
Trade active
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As price didnt show a open/close of a candle under S/R Level 2 i currently only consider the orange arrow scenario
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If price should breaks fast and stronly the target area i might consider closing the trade at the red arrow target
Trade closed: target reached
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Liked this one. Decided to stick to the plan and leave the original target which was just hit. (+1.92%)