Wait for price to reach the order block circled in yellow..
(If you scale down to a lower timeframe you will see that there was a consolidation here before the institutional candle broke out.
Price usually comes back here to rebalance as a retracement before going in the direction it was headed to.
Also circled in yellow is the The wick that hit the support and had a strong rejection, also took out stop losses from previous buyers.
As this is institutional trading, I should ideally keep the stop loss tight but going in for 30 pips in case games are played.
I also have a second entry point
Trade carefully with good risk management in place
(If you scale down to a lower timeframe you will see that there was a consolidation here before the institutional candle broke out.
Price usually comes back here to rebalance as a retracement before going in the direction it was headed to.
Also circled in yellow is the The wick that hit the support and had a strong rejection, also took out stop losses from previous buyers.
As this is institutional trading, I should ideally keep the stop loss tight but going in for 30 pips in case games are played.
I also have a second entry point
Trade carefully with good risk management in place
Transaction en cours:
TP1 smashed
Commentaire:
Either take profits or move Stop Loss to Break Even
Commentaire:
TP2 smashed
Trade fermée: cible de profit atteinte