Wait for price to reach the order block circled in yellow..
(If you scale down to a lower timeframe you will see that there was a consolidation here before the institutional candle broke out.
Price usually comes back here to rebalance as a retracement before going in the direction it was headed to.
Also circled in yellow is the The wick that hit the support and had a strong rejection, also took out stop losses from previous buyers.
As this is institutional trading, I should ideally keep the stop loss tight but going in for 30 pips in case games are played.
I also have a second entry point
Trade carefully with good risk management in place
(If you scale down to a lower timeframe you will see that there was a consolidation here before the institutional candle broke out.
Price usually comes back here to rebalance as a retracement before going in the direction it was headed to.
Also circled in yellow is the The wick that hit the support and had a strong rejection, also took out stop losses from previous buyers.
As this is institutional trading, I should ideally keep the stop loss tight but going in for 30 pips in case games are played.
I also have a second entry point
Trade carefully with good risk management in place
Trade active
TP1 smashedNote
Either take profits or move Stop Loss to Break EvenNote
TP2 smashedTrade closed: target reached
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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.
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.