The price reached the institutional candle. Many sell banks positions will close resulting in a strong reversal.
The most demanding traders would expect the price to approach as close as possible to the low of the institutional candlestick, but even now the entry gives a good risk / reward and the stop loss keeps us safe from a break of the double bottom that has formed.
Trade is in the direction of the trend of larger timeframes, so it is considered safe although small timeframes are considered reversal.
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Now it's good time for break even guyz! We don't wanna price return for the liquidity below double bottom. Happy profits ! ^^