HTF Confluence :
-Price bouncing from a Weekly Key level Resistance to trade lower.
-Daily Bearish Order Block
-But price still retrace and there's a possible reversal because price still bouncing in a Daily Resistance Level to trade higher.
-So this is not a high probability setup, so I rather trade scalp today. REDUCE YOUR LOT SIZE THIS IS NOT A HIGH PROB...
Was anticipating a run on sell stops at current weekly low based on the weekly close above the last down bar's 50% (So often a retrace occurs).
Price DID come to my alert to take some profit, of which I was asleep. Closed trade before full stop out and went long.
Current weekly bar is an inside bar and being ity appears buy stops have been neutralized there just might be a run for sell stops. Being that the daily is showing no close above a certain threshold, perhaps I have read it right. Half a % on the table.
Quick example of the OTE playing out with great confluence, Nice opportunity to snipe some pips from the market today and have risk on and off within 1 hour.
ICT concepts and OTE play out in the markets often and with great accuracy and results.
this trade had:
HTF in favour
POC sessions in favour
OB areas to be mitigated
Expectations based on extensive...
As mentioned in the video, it is important to have a quick look at the weekly chart as it often gives clues on the potential direction for the up and coming week. At least this is how I see it. I discuss the concept of compression and how it offers some nice clues as well.
Credit to influences: ICT and RTM.