Had a bullish engulfing weekly candle last week so marked off the previous weekly candle with the fib retracement low to high we have had a retracement to the 0.62 fib level that lined up with an order block on the 1h candle and so I took the entry on the rejection from the order block and am targeting the previous weeks high.
We seem to have been respecting the channel and have had sweeps of liquidity and a nice rejection from the anchored VWAP. Also we have a small trend line break that has closed outside the trend line so I have taken the short to the downside.
We are getting rejection from resistance and trend line channel so I'm looking to see if it breaks structure to the downside then will look for a short.
Took a previous all time high so we can expect a pull back.
We had a very bearish engulfing candle on the monthly which left a fvg and we had some rejection from the fvg and a move to the downside that left a daily fvg along with a trend line. If i get a rejection from inside the daily fvg and from the trend line at the same time I will wait for a bearish...
I will look to buy if the trend line and resistance is broken and then we get a retest of the resistance turned to support. I will do the opposite if the trend line holds and we get a break and retest of support turned to resistance to the downside.
