After a Liquidity hunt on the downside, price went up and came back to test that same zone as support which gave strong Bullish Reaction for a Long trigger
( A Thread 👇 on how do I approach a range and take scalps)
#1. Price makes a rapid move - Creates a Swing High and Low and starts consolidating within those boundaries
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#2. Price deviates on one of the boundaries and closes back in the range. This logically means that price will likely visit the next extreme boundary of the range
(Not perfect example because it already went to other boundary!)
#3. Look for Trade entries when price revisits the breaker formed at the boundary where it created a deviation, with Stop above the boundary and Target the other extreme boundary
However, I believe one should know who he follows so you know what to expect
So Who Am I?
A thread:
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I'm a Civil Engineer who got amazed by the markets in 2017 because of the Bull run in Cryptocurrency markets.
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Between Dec 2017 to May 2017, I won some and lost some.
A Liquidation (funds wiped off to zero) event in May '17 made me go serious about markets.
I started studying and have been trading seriously, following Money and Risk management since then.
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As a result, I didn't lose big but didn't win big either because of lack of Discipline, Patience and Trading
System.
I have read about and used a lot of Indicators but finally switched to Price Action and now I love it.