First, we can see that I have missed a pretty good setup. The reason for not taking this setup was because 1) The zone was not the reason for the BOC on the 5M but simply the reason for a new 5M & 15M high. And 2) We were still in a 15M bearish sentiment. The bullish sentiment we saw was only internal (3M). Now during news price flew up.
Long:
Just placed a long on the 3M zone that created the 3M BOS. This is a risky trade as it is not responsible for anything on higher timeframes. Also, if we look at the lows of the 15M zone mentioned above (missed trade) + the TL that has been broken during news. We could see an SL hunt under the zone and liquidation point for longers. Later I hope to find some more confluences when it comes to FIB ect.
Long:
Just placed a long on the 3M zone that created the 3M BOS. This is a risky trade as it is not responsible for anything on higher timeframes. Also, if we look at the lows of the 15M zone mentioned above (missed trade) + the TL that has been broken during news. We could see an SL hunt under the zone and liquidation point for longers. Later I hope to find some more confluences when it comes to FIB ect.
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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.