SLK STRATEGY

2. ERL (External range liquidity).

External range liquidity (ERL) is a kind of liquidity that is found at the top or bottom of a range.

Let's put everything together

●Scenario 1

Price move to re-balance an old imbalance.

There is an imbalance below the IRL, that account for the IRL leg not holding to be a higher low.

Scenario 2

Price attacks liquidity

Anytime huge moves are about to happen, price needs to attack some sort of liquidity (IRL)

CLUE

1. Always expect price to takes out liquidity (IRL) before executing

2. IRL with imbalance above in a bearish scenario mostly plays out (same as in bullish structure)

3. Target the nearest external range liquidity (ERL)

Yes