084

Type

Live

Date

July 1, 2022

Pair

#usdchf

TP1

TP2

Concepts

#Liquidity

BIAS & PAZ

Expecting a bounce after this dip on big #liquidity

SETUP

Price trading at bottom end of channel. We have a reaction, but no reversal pattern yet

Finally our impulse and we can identify RP15

#RP15

TRADE RESULT

6R target

NOTES

USDCHF had a massive consolidation back in May 2022 before giving a big bullish run. Price returned to this area and traded below this consolidation and formed a new consolidation as it picked up liquidity. This was also at the lower end of the larger channel. We always look for reversal patterns at these areas, specially seeing how slowly price grinded to get here. Price Action gave us a #RP15 pattern and a great entry point for a big trade. TP was a little tricky on this one and we had to adjust it during the trade slightly, but we were expecting a bit lower prices based on the HTF so we didn't target new highs. 6R is an amazing trade though and enough to make a month.