Yes! I’ve waited long for a trade like this one. For months I took poor value trades, which caused me not to trust in good setups!
Since last week I’ve been taking resonably good trades only to close them too early for too little profit.
Not today, hopefully not anymore.
Price retracted to the bottom of a very significant level over the last 2 months, that is, the hourly equidistant structure at 12428.2
I prepared in advance and entered the trade on the 61.8 level of the Fibonacci retracement tool. It proved a good call!
Something to improve? Taking into account the concept of measured move to maximise profit, given that price almost replicated the previous downtrend (called by Blackbox the A-B leg).
Anyway, nothing to complaint about, a good way to finish the week!
The day of the “slippery salmon”? That’s what I thought on my first trade… I waited for price to brake the H1 Bear mid channel, kept being patient until it went over the same line, and entered the trade just to see how a last push downwards took me off the trade before retracing above my 2R level.
Awesome Dude!!!
What a great trade to end August. I wasn’t planning to trade today but I have and see the blog for why and what happened.
https://blackboxsoftwaresolutions.com/fri-31st-aug/
The key point is the Holy Grid gave great guidance as to what price would probably do and that was move on down to the Daily Bull channel boundary.
Well Done 🙂