I closed the last position in profit because I didn’t like how it kept rejecting this lower time frame resistance. Got a nice discounted entry for the buy. Let’s see how this goes.
Rejection off weekly triangle channel. Hoping to swing this throughout the week.
Rejection off daily trendline. Selling to at least a fill of the gap.
I want to see a H&S pattern formed on the higher timeframes before a continuation of a sell. There has been rejection off of the previous buy order block 3 times so this setup is very promising.
We just got a strong sweep of liquidity. I’m waiting to see if I can get a 50 or 62 fib sell retracement on the 5 minute to enter for a sell. If it does sell hopefully we can break this range.
My reasoning 1. Sweep so much liquidity 2. Didn’t close below the hourly zone wick 3. Retested the same regression channel(AGAIN) it broke out of for a strong buy This could be short term to create the left shoulder of the H&S it looks to be creating OR the last discounted entry to the buy swing.
I hoping this push up with break structure! Maybe nfp will the the drive force for that. We have a buyers liquidity sweep yet also rejecting off of a previous order block. Hmm...
Quarter point entry. H&S pattern. Waiting for structure to be broken on higher timeframe to feel safer.
I'm anticipating a break below the 15 minute range because price is sitting between the 50 and 62 fib retracement for the sell liquidity sweep(grey box). I could take sell positions now since it's been rejecting under the daily zone but I'm willing to wait for a safer entry.
GJ decided to pull up a little more than I expected to capture those equal highs. Hoping they have enough money now to push down to the 4H OB.