3 setups for TNB
Updated
Depending on your preferences, you could play 3 strategies here with TNB
A: playing this trading range, where you try to get in on the bottom of the range and sell the top of the range. With a stop loss couple SAT below the bottom of the range.
B: Looking at this consolidation block, within the range. It seems that on a lower time frame (4H), it was trading just below EQ (83SAT) and broke above. You than can look for an entry at the EQ of that order block with a target of 116 SAT.
C. Waiting for a break above the trading range and enter on the retest. Take profit areas would be around 116 SAT and 169 SAT. You could choose to put your stop loss below previous trading range or below EQ of that order block, so around 80 SAT.
A: playing this trading range, where you try to get in on the bottom of the range and sell the top of the range. With a stop loss couple SAT below the bottom of the range.
B: Looking at this consolidation block, within the range. It seems that on a lower time frame (4H), it was trading just below EQ (83SAT) and broke above. You than can look for an entry at the EQ of that order block with a target of 116 SAT.
C. Waiting for a break above the trading range and enter on the retest. Take profit areas would be around 116 SAT and 169 SAT. You could choose to put your stop loss below previous trading range or below EQ of that order block, so around 80 SAT.
Trade closed: target reached
TNB broke out of the lower trading range, went all the way up to 157SAT and came back down to EQ (83 SAT) of the lower trading range with a low of 81 SAT and then took off and wicked above the upper trading range with a high of 178 SAT. Setup B and C both played out well. As mentioned the stop loss in setup C could indeed be played more aggressively below the lower trading range EQ, But could have easily be stopped out.
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