050 - UKOIL: Zigzag Order Block Short (7.5R)

Type

Live

Date

November 2, 2021

Pair

#ukoil

TP1

6.25

TP2

7.5

Concepts

#ZigZag#Order_Block#qml

Publish

BIAS & PAZ

#qml reversal #zigzag #orderblock

SETUP

Original setup

#RP03 setup

TRADE RESULT

7.5R final target

NOTES

Oil was trending up and made a big consolidation before price dropped lower. This is our shift in momentum and we treat it as our bearish impulse and we can shift our bias to bearish. Price had a clear #zigzag correction into a 1H #orderblock for our PAZ. Here we had a little bit of a consolidation, before price ran liquidity and broke structure lower, the 3rd part of our strategy. We simply waited for a retrace to get short. Even though we didn't register a RP and just executed a #LTF_set_forget price did later form an #RP03.

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