The price made a liquidity grab from above, now we have a reaction from supply zone 1 after which the downward structure was confirmed again.
Globally, the trend remains downward, such a setup is relevant in this trend.
Entry 40472
Stop 42926
Take 35782
Entry logic:
The limit has been thrown on the supply zone, which is now the first significant resistance.
Stop logic:
The stop is set behind the trend high, if the price decides to remove it, then there will already be a possible change in the trend and the context of the market will also change.
Take logic:
The goal is to continue the downward movement and reach imbalance, many traders expect to open a position from the bottom line, but now it is nothing more than a manipulation tool.
Globally, the trend remains downward, such a setup is relevant in this trend.
Entry 40472
Stop 42926
Take 35782
Entry logic:
The limit has been thrown on the supply zone, which is now the first significant resistance.
Stop logic:
The stop is set behind the trend high, if the price decides to remove it, then there will already be a possible change in the trend and the context of the market will also change.
Take logic:
The goal is to continue the downward movement and reach imbalance, many traders expect to open a position from the bottom line, but now it is nothing more than a manipulation tool.
Note
I already have an open position, and limit still stay
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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.