Price has returned to a higher time frame supply zone after a change in structure and is now showing signs of rejection following a pullback (retracement). The mitigation of the supply zone suggests that institutions may have filled their sell orders and are now ready to push price lower.
📉 Execution Plan:
• Entry: On lower timeframe BOS/CHOCH or strong bearish reaction after mitigation.
• SL: Just above the supply zone (allow breathing room).
• TP: Next demand zone or based on structure (e.g., swing low, imbalance fill).
• RR: Minimum 1:3, ideally 1:5 depending on refinement and volatility.
📉 Execution Plan:
• Entry: On lower timeframe BOS/CHOCH or strong bearish reaction after mitigation.
• SL: Just above the supply zone (allow breathing room).
• TP: Next demand zone or based on structure (e.g., swing low, imbalance fill).
• RR: Minimum 1:3, ideally 1:5 depending on refinement and volatility.
Order cancelled
I didn’t get any confirmation to enter and as you can clearly see it has shifted structure.
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Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.