Here we see GBPCAD, building a lot of liquidity on the up and downside. Smart money does this to steal retail traders money and profit themselves. Due to my confluence with other GBP pairs, I am looking for sell positions to be taken as PA develops. My POI identifies IPA, LTF shows PA above to be healthy so there isn't a reason for the market to return above that point. However I will be waiting for LTF for an extra conformation and a better RR on this one.
Commentaire:
If you entered off of the HTF PA, you can have an 8.5 pip SL bringing you a 1:12 clearing liquidity below.