Hi, dear traders. how are you ? Today we have a viewpoint to BUY/LONG the FTM symbol.
FTM ascended from where I entered "origin of motion" and removed 3 supplies and created ascending CH. The move continued until it reached a strong resistance, which I have marked with a yellow circle, and from there it underwent a correction after collecting many sell orders.
Now after a lot of correction it is coming back to the "origin of motion" where I think there are a lot of buy orders left. By hitting this area and collecting buy orders in this area, it can move up.
When the orders are collected and we move up, I have specified 2 TPs, but it is not necessary to be able to move up to the second TP. So you should take some save profit when we get to TP 1 and place your stop on the entry or you can completely exit the market at TP 1. It's really personal and up to you.
Also, in the chart, we have liquidity pools that I have shown with $$$. Pool 1 has been collected, but pools 2 and 3 have not yet been collected.
One thing you should know is that when candles reach a strong support/resistance and we have liquidity pools, after a CH, candles tend to collect liquidity pools ahead.
For risk management, please don't forget stop loss and capital management. Be sure to set a stop loss, because a smart trader will try to preserve capital before thinking about taking profit.
Comment if you have any questions
Thank You
FTM ascended from where I entered "origin of motion" and removed 3 supplies and created ascending CH. The move continued until it reached a strong resistance, which I have marked with a yellow circle, and from there it underwent a correction after collecting many sell orders.
Now after a lot of correction it is coming back to the "origin of motion" where I think there are a lot of buy orders left. By hitting this area and collecting buy orders in this area, it can move up.
When the orders are collected and we move up, I have specified 2 TPs, but it is not necessary to be able to move up to the second TP. So you should take some save profit when we get to TP 1 and place your stop on the entry or you can completely exit the market at TP 1. It's really personal and up to you.
Also, in the chart, we have liquidity pools that I have shown with $$$. Pool 1 has been collected, but pools 2 and 3 have not yet been collected.
One thing you should know is that when candles reach a strong support/resistance and we have liquidity pools, after a CH, candles tend to collect liquidity pools ahead.
For risk management, please don't forget stop loss and capital management. Be sure to set a stop loss, because a smart trader will try to preserve capital before thinking about taking profit.
Comment if you have any questions
Thank You
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