As you can see we notice this retail decending channel, we expect price to break through this channel and head to our sniper zone (Marked in purple) and then head downwards and break past the previous lows.
We have a Sell limit placed at our entry 1 point, but we do have 2 possible entries, just make sure you use correct risk managment. We expect price to head up to our entry 1 point and then head down to take out them equal lows (Marked "Liquidity")
where price could keep pushing down or reverse.
We expect price to come up and retest the sniper zone (Marked in Purple) and head down to break them previous lows, to an old Reistance/support area.
Sell Limit @ 1.414
Stoploss @ 1.42
Take Profit @ 1.4
We have a possible sniper entry for EU, we have the sniper marked with blue arrow that is a break of lows to grab liquidity, we are expecting price to come down and retest the open of the bearish candle and head up towards the other sniper area.
On the monthly time frame we can see the Orange line (Retial Support) has been respected more than 3 times. Price has broken through this support level to take out retial trader that entered Long posoitons at the support area. We could see price head back down to the sniper zone (Marked in purple) to take out any eary retial long traders and then head up in the...
We have this retail support zone where price broke through previously. We have this retail head and shoulders pattern forming on the lower time frames which retail traders will be watching. Price should come down towards to he sniper block (Marked in pink) and then in the intended direction. This will be grabbing retail liquidity so the institutions can get in at...
As you can see we have an order block (Marked in purple) where retail trader were trying to sell at the resistance area. Instituations then ran price higher and trapped these sellers. Price is now coming down to retest that order block. So we could see them keeping price above this order block
My tought on Mona,
This is my first drawing hope u guys like it,
If u have any feed back let me know,
This is no trading advise hahaha there a just my toughts about my trade.
I'm hoping for a next break out and will make sure my sell order is in the books soo it doesn't really matters when it happens.
just not sure about my stop loss.
If any off u guys have...