Price Action: The chart shows the price movement of NQ over a period of time (likely intraday, given the time labels on the x-axis).
Key Levels: There are horizontal lines and rectangular zones drawn on the chart. These likely represent:
Support (S): A price level where buying pressure is expected to be strong enough to prevent further decline.
Resistance (R) or Buyside Liquidity (BuS): Price levels where selling pressure is expected to be strong enough to prevent further price increases. The label "BuS" suggests an area where traders have buy stop orders placed, creating potential liquidity to be taken out.
Sellside Liquidity (SeS or $$$
):∗∗Areasbelowsupportwheretraderslikelyhavesellstopordersplaced.Thesecanactasmagnetsforprice.∗∗∗OrderBlock(OB−POI):∗∗Aspecificpricerangewhereasignificantamountofbuyingorsellingoccurred,oftenseenasapotentialareaoffuturesupportorresistance."POI"likelystandsforPointofInterest.∗∗∗PotentialTradeIdea:∗∗There
′
saprojectedpricepath(theredandgreenlines)suggestingapotentialshorttrade.∗∗∗Entry:∗∗Theshortentryseemstobeplannednearthe21,400level,possiblyafteramoveuptotakeoutsomeofthebuysideliquidity(BuS).∗∗∗Target(TP):∗∗Thegreenareaindicatesthepotentialprofittarget,locatedbelowthesellsideliquidity(
$
)andneartheOrderBlock(OB−POI).∗∗∗StopLoss(SL):∗∗Theredareaabovetheentrypointrepresentsthestop−losslevel,designedtolimitlossesifthetradegoesagainsttheanticipateddirection.∗∗∗"Ata":∗∗Thislabelispositionedneartheprojectedpricepath.It
′
spossiblethisreferstoaspecifictradingconceptorthenameofthetrader
′
sstrategy.Withoutfurthercontext,it
′
shardtosaydefinitively.∗∗Insummary,thechartillustratesapotentialshorttradingsetupbasedon:∗∗1.∗∗Anticipatingamovetotakeoutbuysideliquidity(BuS).∗∗2.∗∗Enteringshortafterthispotentialmove.∗∗3.∗∗Targetingsellsideliquidity(
$$$) and an Order Block (OB - POI) as areas of support.
Having a defined stop-loss level to manage risk.
It's important to remember that this is just a visual representation of a potential trade idea. The actual outcome will depend on market conditions and whether the price action unfolds as anticipated. Traders using such setups would typically look for additional confirmation signals before entering a trade.
Key Levels: There are horizontal lines and rectangular zones drawn on the chart. These likely represent:
Support (S): A price level where buying pressure is expected to be strong enough to prevent further decline.
Resistance (R) or Buyside Liquidity (BuS): Price levels where selling pressure is expected to be strong enough to prevent further price increases. The label "BuS" suggests an area where traders have buy stop orders placed, creating potential liquidity to be taken out.
Sellside Liquidity (SeS or $$$
):∗∗Areasbelowsupportwheretraderslikelyhavesellstopordersplaced.Thesecanactasmagnetsforprice.∗∗∗OrderBlock(OB−POI):∗∗Aspecificpricerangewhereasignificantamountofbuyingorsellingoccurred,oftenseenasapotentialareaoffuturesupportorresistance."POI"likelystandsforPointofInterest.∗∗∗PotentialTradeIdea:∗∗There
′
saprojectedpricepath(theredandgreenlines)suggestingapotentialshorttrade.∗∗∗Entry:∗∗Theshortentryseemstobeplannednearthe21,400level,possiblyafteramoveuptotakeoutsomeofthebuysideliquidity(BuS).∗∗∗Target(TP):∗∗Thegreenareaindicatesthepotentialprofittarget,locatedbelowthesellsideliquidity(
$
)andneartheOrderBlock(OB−POI).∗∗∗StopLoss(SL):∗∗Theredareaabovetheentrypointrepresentsthestop−losslevel,designedtolimitlossesifthetradegoesagainsttheanticipateddirection.∗∗∗"Ata":∗∗Thislabelispositionedneartheprojectedpricepath.It
′
spossiblethisreferstoaspecifictradingconceptorthenameofthetrader
′
sstrategy.Withoutfurthercontext,it
′
shardtosaydefinitively.∗∗Insummary,thechartillustratesapotentialshorttradingsetupbasedon:∗∗1.∗∗Anticipatingamovetotakeoutbuysideliquidity(BuS).∗∗2.∗∗Enteringshortafterthispotentialmove.∗∗3.∗∗Targetingsellsideliquidity(
$$$) and an Order Block (OB - POI) as areas of support.
Having a defined stop-loss level to manage risk.
It's important to remember that this is just a visual representation of a potential trade idea. The actual outcome will depend on market conditions and whether the price action unfolds as anticipated. Traders using such setups would typically look for additional confirmation signals before entering a trade.
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.
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.