Waiting for Climax Bar and Fakeout

Here I will wait climax bar, it is a big candlestick in the last of strong impulse after consolidation in lower time frame. Yes, the price showed consolidation in lower time frame. In the TF 240, the candle form inside bar. The price will go down for the last to break the support for fakeout. Why the price will do this, because the Institution traders need liquid area for taking their profit, and lower than the support is where a lot of stop loss is set.
To make sure, we need to check in lower time frame when the price get close with the zone. If the price show decreased momentum, the reversal surely will come. If not, don't trade, but I already set limit buy. It's worth risking to set it in the right zone.

Commentaire:

Oops, my order is already activated. I think, I was so slow in writing the description of my analysis.
The climax bar was absent previously. Now, the price jumped down so fast.