Trade Setup: continuation setting up for a reversal
Entry Time Frame: 1H
Confirmation: B on 30 with D for short. SBD on 1H for long
Risk/Reward Ratio (RRR): 3 for short. 4-7 for long.
Upcoming High-Impact News: ADP news for CAD in 4 hours. Retail sales for USD in 4 hours.
Level of confidence: 55% for short. 65% for long
Day & Session Spotted: Thursday-LODN
Good bounce from the previous breaker. A bit risky as this pullback comes from the mitigation of a bearish block. If triggered, potential for a 4R trade or more. Today is Friday so hopefully this got juice to push up some more on the NY open or NYSE open.
Potentially mitigated some of the orders from the higher time frame structure. A potential trade to the short side to liquidate that equal lows. I'm expecting to be triggered before the high impact news from the pound later. Manage risk and the trade accordingly.
Potential liquidity buyside liquidity grab. Impulsive sell move. Potential entry on the retracement. Targeting to fill the void below for rebalancing. Potential of a 4:1 RRR trade or more. Manage the trade accordingly if triggered.
This pair did multiple break of structure going to the downside. Multiple supply zones were created. Potential entry setup on the test of last and nearest supply. Potential room to go beyond 1st target if this turns bearish now.
Higher highs were made. The sell fakeout trapped the breakout traders as well as tapped out those trailing stop losses for the active buyers. Potential for entry on the pullback. Set alerts on the retracement area and chill for the rest of the day. Friday today with still upcoming US news later. Manage risk accordingly.
Caught the entry on the mitigation of the breaker on the left hand side. With good bounce, anticipating for the purge of the buy side liquidity or equal highs. Plan now is to take the first partial profit before scaling in if it retraces before continuing to go up.