Trade Idea: EURCAD Sell
Trade Idea: EURCAD Sell
Higher Timeframe Context (HTF):
Identify a premium supply zone or an imbalance (FVG) on the 4H or daily timeframe where price is likely to reverse.
Confirm this zone aligns with a significant resistance area or HTF order block (OB).
Price Action Confirmation:
On the lower timeframe (1H or 15M), wait for price to enter the HTF premium zone.
Look for bearish market structure shifts (MSS) such as:
Break of a short-term low.
Formation of swing highs (liquidity above).
Verify liquidity grab (e.g., price takes out a key high before reversing).
Entry Criteria:
Refine your entry around a mitigation zone like a smaller OB or FVG inside the HTF premium array.
Place the stop-loss above the liquidity grab or HTF premium zone.
Targeting Liquidity:
Set your first target at an obvious equal low or liquidity pool on the HTF.
Extend the final target to an unmitigated demand zone or imbalance below the initial target.
Risk Management:
Use a low-risk entry (e.g., 1-2% of account balance).
Ensure at least a 1:3 risk-to-reward ratio before executing the trade.
Higher Timeframe Context (HTF):
Identify a premium supply zone or an imbalance (FVG) on the 4H or daily timeframe where price is likely to reverse.
Confirm this zone aligns with a significant resistance area or HTF order block (OB).
Price Action Confirmation:
On the lower timeframe (1H or 15M), wait for price to enter the HTF premium zone.
Look for bearish market structure shifts (MSS) such as:
Break of a short-term low.
Formation of swing highs (liquidity above).
Verify liquidity grab (e.g., price takes out a key high before reversing).
Entry Criteria:
Refine your entry around a mitigation zone like a smaller OB or FVG inside the HTF premium array.
Place the stop-loss above the liquidity grab or HTF premium zone.
Targeting Liquidity:
Set your first target at an obvious equal low or liquidity pool on the HTF.
Extend the final target to an unmitigated demand zone or imbalance below the initial target.
Risk Management:
Use a low-risk entry (e.g., 1-2% of account balance).
Ensure at least a 1:3 risk-to-reward ratio before executing the trade.
Asif | Forex Enthusiast 📈
🔍 Currently Learning & Growing
🌟 Exploring the Forex World
📊 Sharing Insights & Progress
Join me on my journey as I dive into the world of forex trading and continue to learn and evolve. Let's grow together!
🔍 Currently Learning & Growing
🌟 Exploring the Forex World
📊 Sharing Insights & Progress
Join me on my journey as I dive into the world of forex trading and continue to learn and evolve. Let's grow together!
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.