I missed the M15 and H1 MAB that I had marked hours ago for fears of a Low-High FIBCON wih the Daily moving average as support.
However, I managed to identify this Double Bottom structure that gave me some valuable profit! Ideally I could have pur a tighter stop loss, but I wanted to give some room in case of a retracement. Anyway, happy with this trade, let’s see if the market offers anything else for today.
No two days are the same! Yesterday it took ages for price to move up, and today in 30mins I missed a multiple R bull move starting at the same level I bought yesterday without any luck.
That’s probably the reason why I took this trade. FOMO kicked in and invited me over to a party that was finishing. I liked the idea of a Role Reversal at the 11772 level.0 but as soon as price broke both that and the 61.8 level marked with the Fibtool, I looked for an exit point. It was a -0.24R that was going to be worse if left alone.
I wouldn’t take this trade again.
I also liked the look of that 15min/1hour MAB, but stood aside for the same reasoning, as I was expecting a move down into the Lo-Hi GZ. Another reason was because I was in a bearish mindset with price coming down from the day’s High.
Yeah it was tricky! I left my desk, came back and saw the price going up from the Daily Moving Average! Hope you caught it!
Btw, good to see you’re back! Look forward to reading your blog 🙂