Last week I was looking to get involved with this
AUDJPY
short opportunity. My higher time frame perspective seemed to be in line with the market structure but I didn't quite get the reading on the lower time frames...
On the 1h, price was making a series of higher highs and higher lows, seemingly pulling back towards the 4h supply zone. Following the second retest of price into this macro zone, then a liquidation of the previous high and multiple bearish breaks of structure, I dropped to the ltfs to spot my entry.
https://s3.tradingview.com/snapshots/2/2tZadm4E.png
After ranging within supply, there was a clear bearish impulse (change of character) leading to multiple breaks of structure. I set my sell limit orders in the region where this impulsive leg originated from, however price didn't quite reach that level and my entries weren't tagged on this occasion. Price dropped rapidly during New York. Can't catch them all.
Black Out
AUDJPY
short opportunity. My higher time frame perspective seemed to be in line with the market structure but I didn't quite get the reading on the lower time frames... On the 1h, price was making a series of higher highs and higher lows, seemingly pulling back towards the 4h supply zone. Following the second retest of price into this macro zone, then a liquidation of the previous high and multiple bearish breaks of structure, I dropped to the ltfs to spot my entry.
https://s3.tradingview.com/snapshots/2/2tZadm4E.png
After ranging within supply, there was a clear bearish impulse (change of character) leading to multiple breaks of structure. I set my sell limit orders in the region where this impulsive leg originated from, however price didn't quite reach that level and my entries weren't tagged on this occasion. Price dropped rapidly during New York. Can't catch them all.
Black Out