as predicted, were seeing bullish momentum to reach our point of control.
to summerise this trade and confluences, on the
weekly we're bearish - worth 10%
daily bearish - 10%
4hr bearish - 10%
1hr bearish 10%
thats 40% probability that if i press sell, i will win.
in recent price action ive noticed some accumulation before a break of london session. Asian session was all consolidation, price ranging, which would need to be accounted for.
using the frvp i quickly located a point of control just after we saw a break in london session. this now becomes our point of interest, if price retraces to this area, taking a position from here could be quite ideal.
10%
fvrp. this tool records where the most volume sits at one price, this price is interesting to us as the big banks aim to trade from this area.
10%
we know that this area is strong as it had caused a wipe and break of all lows in the previous bear run.
10%
we see what order block lines up perfectly with the red line shown to us right before the breakand we need to see imbalance being left behind.
10%
80% trade probability so we wait for price to come up in this area and take the trade (if my zone is right), ill be waiting for rejections on the 1 minute order block ive located mainly but a 5 minute rejection will do just fine, stop loss super tight and aiming for 15RR
to summerise this trade and confluences, on the
weekly we're bearish - worth 10%
daily bearish - 10%
4hr bearish - 10%
1hr bearish 10%
thats 40% probability that if i press sell, i will win.
in recent price action ive noticed some accumulation before a break of london session. Asian session was all consolidation, price ranging, which would need to be accounted for.
using the frvp i quickly located a point of control just after we saw a break in london session. this now becomes our point of interest, if price retraces to this area, taking a position from here could be quite ideal.
10%
fvrp. this tool records where the most volume sits at one price, this price is interesting to us as the big banks aim to trade from this area.
10%
we know that this area is strong as it had caused a wipe and break of all lows in the previous bear run.
10%
we see what order block lines up perfectly with the red line shown to us right before the breakand we need to see imbalance being left behind.
10%
80% trade probability so we wait for price to come up in this area and take the trade (if my zone is right), ill be waiting for rejections on the 1 minute order block ive located mainly but a 5 minute rejection will do just fine, stop loss super tight and aiming for 15RR
Note
as the trade continues i forgot to mention all of the liquidity that is currently being built up just to reach our point of interest
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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.