As we can see, some beautiful price action.
We had three hunter candles, marked by the smaller circles.
The bigger circle marks a lvl . of interest, which came to be a key resistance point later on.
The parallel channel had several touches and price respected it for a while before "big money" decided for a liquidity grab on the 89.3% harmonic Fib. lvl .! (Hunter candle #1)
Drawn two triangles, one for the "close" technicians and one for the "peak" technicians. ;-) (Pick Both!) :-)
Plenty to say about this chart, but basically we had a 2nd and recently a 3rd liquidity grab again all the way back to the 89.3% Fib. lvl .! (and 94.1% Fib. lvl. not shown in the study, but just under the blue line)
Now blasting up after the "grab"!
Any way, the reason why I published this one is, because there is still a reasonable risk to reward ratio to be found, towards the Exit Zone.
Exit zone based on Fib. Projection and Extension study.
Catch it on the breakout!
Cheers and have a good trade.
PS. if anything to learn about these "grabs" is to leave room for the trade to breathe.
We had three hunter candles, marked by the smaller circles.
The bigger circle marks a lvl . of interest, which came to be a key resistance point later on.
The parallel channel had several touches and price respected it for a while before "big money" decided for a liquidity grab on the 89.3% harmonic Fib. lvl .! (Hunter candle #1)
Drawn two triangles, one for the "close" technicians and one for the "peak" technicians. ;-) (Pick Both!) :-)
Plenty to say about this chart, but basically we had a 2nd and recently a 3rd liquidity grab again all the way back to the 89.3% Fib. lvl .! (and 94.1% Fib. lvl. not shown in the study, but just under the blue line)
Now blasting up after the "grab"!
Any way, the reason why I published this one is, because there is still a reasonable risk to reward ratio to be found, towards the Exit Zone.
Exit zone based on Fib. Projection and Extension study.
Catch it on the breakout!
Cheers and have a good trade.
PS. if anything to learn about these "grabs" is to leave room for the trade to breathe.
Trade active:
Not THAT break-out lol!
That was a fake-out. ;-)
Better to wait for a re-test and then confirmation, though keep in mind this one could Rally - Base - Rally, without a pull-back!
That was a fake-out. ;-)
Better to wait for a re-test and then confirmation, though keep in mind this one could Rally - Base - Rally, without a pull-back!
Trade closed: target reached:
Triggered target at fib. projection lvl.