Marked in blue is a 2 Day Bullish Orderblock marked in December 2020.
On the 1H chart, price broke below the OB but seems to have reclaimed it. IF price can close above the local high which I have marked, I would long up to the marked weekly level. Stop loss just below the order block. General sentiment is still extremely bearish so this trade is countertrend so I am only risking 1%.
On the 1H chart, price broke below the OB but seems to have reclaimed it. IF price can close above the local high which I have marked, I would long up to the marked weekly level. Stop loss just below the order block. General sentiment is still extremely bearish so this trade is countertrend so I am only risking 1%.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.