I hope everyone has had a great weekend and you're all getting ready for another profitable week like me 😎
This is as simple as it looks but I will break it down for you. My 71% to 76.8% Fib Retracement golden zone aligns perfectly with that footprint in the imbalance I've marked.
Most retail traders will see those equal lows and the bounce from 50% to 61.8% and think it's a rock solid support. Have you ever thought about how many Stop Losses are behind a level like that from traders who have gone long? The big market players do all the time and they call it liquidity. On top of that all the sell stop orders wether they're protective or speculative they will have stops not too far away just above that 50% to 61.8% zone.
This is such a clean setup as well because Mondays and Fridays are manipulation days. It's significant a setup like this should fall on a Monday.
I'm expecting price to range for a while and then go on a Stop Hunt to my area of interest. Grab all that liquidity and slingshot out of there. I'm simply suggesting we be on the winning side instead of the 90 odd percent of traders who lose money.
It could go wrong because they're slippery these big institutions so you don't have to be as aggressive as me and aim for the very bottom of the pull back, you could wait for the reversal to become apparent and ride it up.
Good luck everyone and as always if you like my work please show me some love.
This is as simple as it looks but I will break it down for you. My 71% to 76.8% Fib Retracement golden zone aligns perfectly with that footprint in the imbalance I've marked.
Most retail traders will see those equal lows and the bounce from 50% to 61.8% and think it's a rock solid support. Have you ever thought about how many Stop Losses are behind a level like that from traders who have gone long? The big market players do all the time and they call it liquidity. On top of that all the sell stop orders wether they're protective or speculative they will have stops not too far away just above that 50% to 61.8% zone.
This is such a clean setup as well because Mondays and Fridays are manipulation days. It's significant a setup like this should fall on a Monday.
I'm expecting price to range for a while and then go on a Stop Hunt to my area of interest. Grab all that liquidity and slingshot out of there. I'm simply suggesting we be on the winning side instead of the 90 odd percent of traders who lose money.
It could go wrong because they're slippery these big institutions so you don't have to be as aggressive as me and aim for the very bottom of the pull back, you could wait for the reversal to become apparent and ride it up.
Good luck everyone and as always if you like my work please show me some love.
Trade closed: stop reached:
I don't think anyone anticipated just how far that would drop. Time to re-evaluate and come back will bring you all a new idea soon.
