1. Sideway at Supply Zone (DISTRIBUTION)
==>> Place Sell Limit at resistance zone
==>> Stop loss should be 30-50pips above shadow
==>> BIG LOT advice = you must know how big your capital is and risk with lot equivalent to 100 pips
2. Breakout Tips (For Short Scenario on this USDCHF)
==>> Wait until break confirmed with new Lower Low
==>> 25% CHANCE price will continue its drop
==>> 25% CHANCE price will retrace and form Drop (Breakout) - base - rally (FTB First time back) - base - drop (elliot Wave correction)
==>> 25% CHANCE price will form Drop - Base - Drop
==>> 25% CHANCE priice will Break lowest low then Rally up again canceling bearish scenario (Fail to Break / manipulation / SL Hunter / Take Pending Order)
3. COMPRESSION / CONTINUATION
==>> its similar to these patterns = FALLING/RISING WEDGE, DESCENDING/ASCENDING TRIANGLE
==>> when price retrace or forming corrective move, that means Price already comeback to S/D to take Pending order and those areas considered as CLEAR no order placed again
HENCE there is no significant support/resistance and BIG DROP or Rally Likely are likely happen..
GoodLuck, Take your time to study MARKET BEHAVIOUR to refresh your mind and get clearer perspective what is market telling you....
==>> Place Sell Limit at resistance zone
==>> Stop loss should be 30-50pips above shadow
==>> BIG LOT advice = you must know how big your capital is and risk with lot equivalent to 100 pips
2. Breakout Tips (For Short Scenario on this USDCHF)
==>> Wait until break confirmed with new Lower Low
==>> 25% CHANCE price will continue its drop
==>> 25% CHANCE price will retrace and form Drop (Breakout) - base - rally (FTB First time back) - base - drop (elliot Wave correction)
==>> 25% CHANCE price will form Drop - Base - Drop
==>> 25% CHANCE priice will Break lowest low then Rally up again canceling bearish scenario (Fail to Break / manipulation / SL Hunter / Take Pending Order)
3. COMPRESSION / CONTINUATION
==>> its similar to these patterns = FALLING/RISING WEDGE, DESCENDING/ASCENDING TRIANGLE
==>> when price retrace or forming corrective move, that means Price already comeback to S/D to take Pending order and those areas considered as CLEAR no order placed again
HENCE there is no significant support/resistance and BIG DROP or Rally Likely are likely happen..
GoodLuck, Take your time to study MARKET BEHAVIOUR to refresh your mind and get clearer perspective what is market telling you....