My main trading principle is that the price always moves from swept liquidity levels to untouched liquidity levels.
In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level higher. Also price swept 1W key liquidity, so the probability for some bullish move higher.
But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure.
We can notice the break of market structure (sign of strength) on key liquidity level, so there is a higher probability to see price higher at least on opposite level (marked higher).
Your success is determined solely by your ability to consistently follow the same principles.
In particular case we clearly can see the following context: price swept 1D key liquidity level and left untouched level higher. Also price swept 1W key liquidity, so the probability for some bullish move higher.
But to take more statistically more probable trades we should wait for some time of lower timeframe confirmation. For me the best way to confirm higher timeframe context is structure.
We can notice the break of market structure (sign of strength) on key liquidity level, so there is a higher probability to see price higher at least on opposite level (marked higher).
Your success is determined solely by your ability to consistently follow the same principles.
Trade active
Got the entry Trade closed: target reached
Nice move, stop at BENote
+2R
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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.