071

TRADE RESULT

BIAS & PAZ

SETUP

NOTES

On the 4H price retraced to an old level of resistance. This also came in at the 50% retrace. Even if you didnt identify this area from the start as a PAZ, once you see the impulsive reaction you can identify it and start looking for reversal patterns. One would expect price to reach at the very least the bullish #order_block. So untill that target has been reached, one can look for the short. Dropping to the 15Min TF, one can see the bearish impulse before the consolidation and break lower. This created a clear #RP06 and we can place our order. Targeting the order block. This one took a while and traded lower than our target, but it was still an easy 2.1R in the bank.