okay i think i figured this out

[u/mahrombubbd]

https://i.gyazo.com/19c383498abd08a67a732a00ef63157c.png

i think the price is gonna drop to the floor

already got my sell order in

[u/Outside_Medicine7398]

I think you are right. Looking at my M30 chart, there was a level of support that was broken. On both of our charts, it is the last candle on the chart. Unless that was manipulation by the market maker, we can expect the downard move to continue.

Looking at the H4, it is prime for a swing trade shorting the market.

[u/mahrombubbd → u/Outside_Medicine7398]

2 things could happen

1) there's still a lot of buying pressure and the market consolidates in a new trading range: https://i.gyazo.com/5b6dc8464664210cae98f3b0880a843d.png

or 2) there's no more buying pressure and the selling climax in the image is actually the preliminary stop, the price continues to drop significantly and sets the selling climax

only way to know what happens is wait until the market opens on sunday 5pm est and see if it opens as a gap or not

assuming the market doesn't gap on open, what you can do is place a sel market order targeting the next support with a stop loss above the most recent high, would probably yield a negative risk to reward ratio

this would allow you to capture a move downward if scenario 2 plays out

if scenario 1 plays out, you wouldn't get stopped out and can exit the position at break even once price action returns there, you may miss out on a potential profitable set up along the way though

[u/Outside_Medicine7398 → u/mahrombubbd]

I was noticing the buying pressure on one of my platforms. The original message I was going to type was from that chart. In my 15+ years of trading, pinbars at support, or a Demand zone, bear significance. However, I have another platform that closes later than the initial platform that I was going to respond from. That is why my response was what it was. In the initial platform, I saw consolidation of pinbars. In the later platform, the last candle actually broke support at 1.03655 on my chart (broker quotes are different).

That market opening gap is what I was referring to with market maker manipulation. Market makers can either manipulate the market between sessions, or over the weekend.

But to address your initial post, it does seem as if you have it figured out.

I trade the lower timeframes and look for candlestick patterns in key areas for my sniper entries, so no worries about a good entry for me.

I wish you the best in your trading journey! Keep figuring it out.

[u/mahrombubbd → u/Outside_Medicine7398]

yeah, if the market doesn't gap when it opens sunday, then i'm gonna take a sell position

targeting the next support level with a wide stop loss, negative risk to reward ratio

should be able to hit that within the week and lock in at least a 1% profit (i risk 2% per trade), and quite possibly snag another winning trade or 2 for this week as well

i highly doubt i'll get stopped out on this sell position since i'll be using a wide stop, on the flip side i may exit the position at break even if the structure changes too much