Market took out liquidity then drove price lower. Creating an imbalance due to the fast movement of price. Also,it broke the market structure (most notable low). It has also engulfed, giving us an entry on the close of the last bearish candle before the down move
Last Bullish candle (made by banks) grabbed liquidity (stop hunt)from the key area of resistance. ✅
Followed by an impulsive sell move(also made by banks) which trapped buyers induced bt the last bullish candle.✅
Break of market structure (most recent previous low)✅
Sell limit should be places at the bottom of either the open of the last bullish candle on the 1H...
Equal highs created generate liquidity above which is them taken out by the institutional buy candle,followed by an impulsive institutional sell move(a series of huge bearish candles).
Market structure(most recent previous low gets broken.
New liquidity is created below which is the target
Entry is set as a sell limit at the open of the institutional buy...