The market needs to pull back to Fibonacci zones. Look at the charts for details and let me know what you think.
Counter Trend Setup:
1. Identify Liquidity, 200 EMA, and Market Hours
2. Mitigate Order Block
3. Strong Break of the Trendline
4. Retest Break at new Order Block 5/15 min
5. Rejection/Reversal at Break Retest on 5/15 min timeframe.
6. Enter
Counter Trend Setup:
1. Identify Liquidity, 200 EMA, and Market Hours
2. Mitigate Order Block
3. Strong Break of the Trendline
4. Retest Break at new Order Block 5/15 min
5. Rejection/Reversal at Break Retest on 5/15 min timeframe.
6. Enter
Trade active
Counter Trend Setup (Corrected):1. Identify Liquidity, 200 EMA, and Market Hours
2. Mitigate Order Block
3. Strong Break of the Trendline (probably a fake out if market hours are wrong, be patient)
4. Retest the Order Block that started the trendline break 5/15 min
5. Sweep the liquidity below the lows
6. Rejection/Reversal after the liquidity sweep on 5/15 min timeframe. (Wait for the candle to close.)
7. Enter and set the target based on Fib and higher timeframe trend.
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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.