A Rising Wedge from Big Time Frame and Supply Zone Reflection.
If seen by the bigger picture, there is a rising wedge on the bigger time frames and the structure is holding from breaking further up using the supply zone that can be seen in the chart.
However, it could still go and create a new high in order to make a liquidity grab move but we enter when the candles on the 15 or 30 minutes are clear with price action. Put stop loss correspondingly and let the market roll.
The short position is just for visualisation and it is recommended to seek further candle confirmation.
Never risk more than 0.5% risk on a single trade and aim for a 3 RR.
Good luck everyone.
However, it could still go and create a new high in order to make a liquidity grab move but we enter when the candles on the 15 or 30 minutes are clear with price action. Put stop loss correspondingly and let the market roll.
The short position is just for visualisation and it is recommended to seek further candle confirmation.
Never risk more than 0.5% risk on a single trade and aim for a 3 RR.
Good luck everyone.