The trade tool remains in the same place as it was before price started to going up. I was close to take it but I am still convincing myself as to whether this trades are worth or not. The thing is, I’ ve seen it sooo many times that it is hard to ignore.
When price is ranging within a defined top and bottom usually close to each other, it is normal to see how price breakes support, finds a lower low and gets back to the ranging area. When that happens, price usually is preparing to move higher. A great entry level is the bottom of the range, and it very rearly fails!
I’ll keep marking those because I am sure we have a good edge here!
I liked this setup as after a strong move upwards it came a equally fast retracement. The H4 moving average was in between the M1 and M5 moving averages so I waited to see if the 61.8 level of my Fibtool held and went for it.
However, price soon broke that level, almost stopped me out and started going up and down quite fast. Those are signs of short term volatility, and I prefer to be out of it as it usually does not respect supports. As soon as I could I exited the trade at breakeven, a good decision!
Great way to start the week!
When I saw price going down quickly without having hit any strong resistance, I started looking for the best MAB available. The M15 moving average was above the open so I went for it!
Quick bounce, fast profit, maximised locking in profit along the way.
Yes!!
Brilliant trade. I actually missed the 15min MAB, and entered at a bad level.
You took that perfectly.
You were really close!! Well done both of us, the only difference is that I have already finished my Ph.D. in being stopped out for fine margins and you are almost there!
Next trade you will nail it!
Great M15 Buy MAB, well reasoned out and executed 🙂