Its been a rollercoaster ride the last few trading sessions! If you have been keeping up with my previous ideas, you will know that i got stopped out in profit due to price hitting a liquidity zone and forcing it back down. The setup in order to catch that sell was as day but as mentioned in my last idea, i was to busy staring at what I WANT instead of what i SEE. I could have maximized profits if i would have caught the sell off. There has been alot of manipulation going on in the market. For NAS i believe it was Friday when price impulsed down.
If you know you know but "stop loss hunting" played a huge roll into this sell off. Which is a huge reason why we had so much heavy impulse to the downside.
take a look at where price went down to before BUYING RIGHT BACK UP. History repeats itself in the market. We can see that when price attempted to break this area before we had rejection, indicating some level of importance. ($$) With this knowledge i was able to find a sniper entry indicated on my chart. Now since entering this trade price has brought back up into our liquidity zone just to sell RIGHT BACK DOWN. A nice double top pattern would have given indication for that sell (1H). Because of divergence i knew that price was just "possibly" retracing. Based off fibs we actually had rejection of our 88 level. Price stopped maybe 100 points above my FIRST entry so you know what i had to do.... pop another entry. Now im hoping we can finally get a strong bull run to clear that liquidity zone. This may be a possible setup we will see heading into London session. Right now price is showing a IHS pattern which could possibly be another entry! (My 3rd) I would want to see price make it to 12050 level as a first TP. Then from there i will be able to tell if we will get another push up to the 12500 level. I need to see confirmation of IHS pattern before i can pop another entry. Remember patience is key. I will update this idea as i go along.
Trade Safe
If you know you know but "stop loss hunting" played a huge roll into this sell off. Which is a huge reason why we had so much heavy impulse to the downside.
Trade Safe
Comment:
This may actually be our entry point right here.
we have a retest of our EMA lines and this is also the area in which the first "shoulder" was made
Trade closed: target reached:
we have reached my target area aright below 12050. This is a important area of liquidity. every time price price has reached this area, we get a huge sell off indicating for me to tread cautiously and wait for proper setup/confirmations. I am still holding my original entry of 11529 until otherwise. Will check in later
Trade safely
Trade safely
