Idea Qualifiers:
- Market retraced to discount
- Minor OB hit
- Liquidity swept
- 15m BoS with gap formed
Idea Invalidations:
- Invalidation high is hit before entry
Notes:
- The BoS is very tight, but does not have the structure of a liquidity grab on lower timeframes.
- The retracement is therefore expected to be deep, drawdown should be expected.
- A 1m refinement was used for the limit entry, experimenting to see how well I have a read on these.
- Looking out for potential change of characteristic at the OB highlighted above as this buy move could be the retracement after a reversal (especially considering the structure on the left). Expecting to have a strong reaction to that blue box above.
- Will hold this position while selling from that blue box if an opportunity is given.
Trade Score: Grade B
If the BoS was stronger, it would have been an A.
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