Key Elements of the Chart:
1. External Range Liquidity: This is the area marked above the market price, which is the potential level where liquidity might exist. Price is expected to target this area before moving down, triggering sell orders.
2. Order Block + Sell Side Liquidity: The highlighted brown area represents an order block (a region where significant buying or selling took place previously, indicating future price reversal or consolidation). This area is likely to offer resistance and could trigger sell orders if price revisits this level.
3. Price Action: The price has recently moved up towards the external range liquidity and is near the sell-side liquidity, which makes the market ready for a potential reversal, signaling a good setup for short positions.
Sell Entry (Short):
Sell Entry Point: Look to enter a short position near the External Range Liquidity or once the price reaches the Order Block + Sell Side Liquidity region. This area has the potential to reverse the price downward.
Stop Loss (SL): Place the stop loss just above the external range liquidity (around the 177.00 level), giving enough room for the price to test that level before turning back down.
Take Profit (TP): Aim for a take profit at the Order Block + Sell Side Liquidity zone (around 172.00). You could also consider a trailing stop once the price starts moving in your favor.
Risk Management:
The key risk management strategy is to have your stop loss set above the resistance area (around 177.00), while your target would be the lower price zone (around 172.00), offering a favorable risk-to-reward ratio.
1. External Range Liquidity: This is the area marked above the market price, which is the potential level where liquidity might exist. Price is expected to target this area before moving down, triggering sell orders.
2. Order Block + Sell Side Liquidity: The highlighted brown area represents an order block (a region where significant buying or selling took place previously, indicating future price reversal or consolidation). This area is likely to offer resistance and could trigger sell orders if price revisits this level.
3. Price Action: The price has recently moved up towards the external range liquidity and is near the sell-side liquidity, which makes the market ready for a potential reversal, signaling a good setup for short positions.
Sell Entry (Short):
Sell Entry Point: Look to enter a short position near the External Range Liquidity or once the price reaches the Order Block + Sell Side Liquidity region. This area has the potential to reverse the price downward.
Stop Loss (SL): Place the stop loss just above the external range liquidity (around the 177.00 level), giving enough room for the price to test that level before turning back down.
Take Profit (TP): Aim for a take profit at the Order Block + Sell Side Liquidity zone (around 172.00). You could also consider a trailing stop once the price starts moving in your favor.
Risk Management:
The key risk management strategy is to have your stop loss set above the resistance area (around 177.00), while your target would be the lower price zone (around 172.00), offering a favorable risk-to-reward ratio.
TELEGRAM CHANNEL CLICK HERE
👇👇
t.me/addlist/j3ts8pztHtY3NWQ0
VIP SIGNALS SERVICE 👇👇⬇️
t.me/addlist/j3ts8pztHtY3NWQ0
Recommend best broker exness Partner link 👇
one.exnesstrack.org/a/kyponqqh5i
👇👇
t.me/addlist/j3ts8pztHtY3NWQ0
VIP SIGNALS SERVICE 👇👇⬇️
t.me/addlist/j3ts8pztHtY3NWQ0
Recommend best broker exness Partner link 👇
one.exnesstrack.org/a/kyponqqh5i
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.
TELEGRAM CHANNEL CLICK HERE
👇👇
t.me/addlist/j3ts8pztHtY3NWQ0
VIP SIGNALS SERVICE 👇👇⬇️
t.me/addlist/j3ts8pztHtY3NWQ0
Recommend best broker exness Partner link 👇
one.exnesstrack.org/a/kyponqqh5i
👇👇
t.me/addlist/j3ts8pztHtY3NWQ0
VIP SIGNALS SERVICE 👇👇⬇️
t.me/addlist/j3ts8pztHtY3NWQ0
Recommend best broker exness Partner link 👇
one.exnesstrack.org/a/kyponqqh5i
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.