XLMUSDT Short Scalp - 30m
- Price creates a bullish imbalance going forward
- Price creates buy-side liquidity (BSL) and then proceeds to clear BSL highs
- Price then drops and clears BSL lows, creating a change of character (CHoCH)
- After creating a change of character, price proceeds to move back upwards, forming internal liquidity
- Price then clears this liquidity (L) and mitigates supply
- After confirming a bearish reaction candle from mitigation, we look for shorts
- SL is set to the breaker block that occurs just before the main supply zone
- Tp1 is at the final wick high before the bullish imbalance candle
- Tp2 is set at the bottom of external liquidity
- Price creates buy-side liquidity (BSL) and then proceeds to clear BSL highs
- Price then drops and clears BSL lows, creating a change of character (CHoCH)
- After creating a change of character, price proceeds to move back upwards, forming internal liquidity
- Price then clears this liquidity (L) and mitigates supply
- After confirming a bearish reaction candle from mitigation, we look for shorts
- SL is set to the breaker block that occurs just before the main supply zone
- Tp1 is at the final wick high before the bullish imbalance candle
- Tp2 is set at the bottom of external liquidity
Note
- High momentum took us out, exited with proper risk management.
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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.