- Simple trade whereby price previously took out a week's worth of EQH's and so liquidity and then reversed with high momentum to the upside suggesting a possible IC region price would like to come back to satisfy.
- Further confluence would be the double bottom formation on the lower timeframe creating a pool of liquidity below price and so a possible spike down 40 pips to take the liquidity out and then reverse to the upside to continue the bull run.
- I would like to enter long positions upon the spike down and with a 30 pip risk and a 530 pip reward, we have a 1:17 r/r.
- Further confluence would be the double bottom formation on the lower timeframe creating a pool of liquidity below price and so a possible spike down 40 pips to take the liquidity out and then reverse to the upside to continue the bull run.
- I would like to enter long positions upon the spike down and with a 30 pip risk and a 530 pip reward, we have a 1:17 r/r.