Half an hour nervously sitting on my hands and trying my best not to tamper with the trade paid off with a winner.
After the previous 15min MAB (which daxtrader has pointed out above), I was confident that the 15min ema was the one to be watching. When the opportunity came up for a 15min MAB confluence with the D1 Bear Channel, I had to take it!
There was a smaller set-up during the B-C leg of this trade, where price encountered some resistance at a Fib level (shown in the screenshot below), but I resisted the urge to take this trade as it was low probability.
I did move my Stop Loss up to above the 1hour ema halfway through this trade, as further protection from any price spikes, however this wasn’t necessary in the end, and could have resulted in a bigger loss had price not gone my way!
Also of note, is the intersection of the M5 Bull and Bear Channels, which added another layer of confluence to this trade.
I didn’t enter either of these trades, as there was no confluence with a moving average.
The second trade might have been a bit dodgy, buying up into the D1 Bear Channel.
Yeahh you showed some nerves of steel there!!
Nice winner!
Thanks Alex, it was a good feeling when it finally closed out!