Price is at the top of a daily range and inside a daily supply zone. Zooming in on the 4H we can see range boundaries being respected and acting as support/resistance. Price briefly closed above the range high, but got violently rejected and is now trading back inside the range. This gives us an excellent, risk-defined short setup.
- short entry at around range high with invalidation (stop) at the high
- first target is 4H demand zone which is confluent with the range low and a major SR level
- short entry at around range high with invalidation (stop) at the high
- first target is 4H demand zone which is confluent with the range low and a major SR level
註釋
Above chart on the 4H timeframe. Price is clearly acting with the range boundaries手動結束交易
Closed my short at break even. Price has been consolidating for too long under resistance. Even though technically resistance is still holding as it should, I don't feel confident in my stop being safe so I closed it.
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