Starting on the 12hr timeframe we can see a large ‘ascending channel’ forming and a H&S formation on the RSI.
Dropping to the 4hr we can see the channel a bit clearer and a lower high formed at the .702 fibs.
1hr timeframe we can see an internal liquidity sweep of the range into a order block above, a clear break of structure with displacement to the downside.
30min is where we define our take profit being the FVG & order block in the discount confluent with the trendline.
Last but not least on the 15 minute we have our breaker block where we can see price has bounced out of multiple times before being displaced through.
We want to enter on the retest of this block and FVG fill, this is where traders who went long from this order block turned breaker block will look to mitigate there losses at a small loss or break even, filling smart money bags! (our shorts ;)
Starting on the 12hr timeframe we can see a large ‘ascending channel’ forming and a H&S formation on the RSI.
Dropping to the 4hr we can see the channel a bit clearer and a lower high formed at the .702 fibs.
1hr timeframe we can see an internal liquidity sweep of the range into a order block above, a clear break of structure with displacement to the downside.
30min is where we define our take profit being the FVG & order block in the discount confluent with the trendline.
Last but not least on the 15 minute we have our breaker block where we can see price has bounced out of multiple times before being displaced through.
We want to enter on the retest of this block and FVG fill, this is where traders who went long from this order block turned breaker block will look to mitigate there losses at a small loss or break even, filling smart money bags! (our shorts ;)