- In the range shown in the picture, the overall flow is leaning down because sellers have broken a recent low and the buyers are coming back up in a slower fashion
- Price is right at the key seller area where the origin of the push that created a new low happened, thus giving us the right to look for sells when the buys fail
- We do not trade on the 1st seller reaction as the buyers may defend the nearest support strongly and continue making higher highs in their journey
- When there were lower timeframe signs of rejection for the sellers, we got an indication that sellers may be acting around that area, thus creating an entry trigger.
Note: This is an aggressive entry, 25% of your usual position’s risk can be used. Later, we can add remaining size to the trade once we get more signs that the sells are going to work.
Entry Price – Sell 1.95521
Stop Loss – 1.96001
Take Profit – 1.94171
Risk to Reward – 1:2.81
Profit & Loss Per Standard Lot = -$319/ +$899
Profit & Loss Per Micro Lot = -$31.9/ +$89.9
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