Here we see GBPCAD, building a lot of liquidity on the up and downside. Smart money does this to steal retail traders money and profit themselves. Due to my confluence with other GBP pairs, I am looking for sell positions to be taken as PA develops. My POI identifies IPA, LTF shows PA above to be healthy so there isn't a reason for the market to return above that point. However I will be waiting for LTF for an extra conformation and a better RR on this one.
Note
If you entered off of the HTF PA, you can have an 8.5 pip SL bringing you a 1:12 clearing liquidity below.
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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.