CORZ Shorting strategy
This is 1h timeframe.
Started the day with an entry at the lowest blue line 9.03 with a TP at the dashed line 9.51
As a general rule, if you have sell/buy side liquidity accumulation forming a pattern, once the first high/low is swept, the rest of highs (in that same parttern !) will probably follow. works better with highs than lows.
So now that we swept all buy side liquidity, we are failing to close above the 50% of the move down, suggesting weakness.
How to Trade :
If price goes below the second blue line from the bottom, we can enter into a short position with an entry at that blue line (9.21) with a potential TP at the two aligned order blocks, 9.65 !
Let's not risk it further, eventhough price seems to be too extended over the 50 SMA, it might bounce and go higher.
I can't tell you where to put your SL, each one manages the risk differently.
Don't forget to follow for more !! ;)
Started the day with an entry at the lowest blue line 9.03 with a TP at the dashed line 9.51
As a general rule, if you have sell/buy side liquidity accumulation forming a pattern, once the first high/low is swept, the rest of highs (in that same parttern !) will probably follow. works better with highs than lows.
So now that we swept all buy side liquidity, we are failing to close above the 50% of the move down, suggesting weakness.
How to Trade :
If price goes below the second blue line from the bottom, we can enter into a short position with an entry at that blue line (9.21) with a potential TP at the two aligned order blocks, 9.65 !
Let's not risk it further, eventhough price seems to be too extended over the 50 SMA, it might bounce and go higher.
I can't tell you where to put your SL, each one manages the risk differently.
Don't forget to follow for more !! ;)
Penafian
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