End of Day Review
+3.66R
The set up and Role Reversal structure was very good for this trade, enough to convince me to enter the trade. The bullish candle that pushed price back up through the 1min ema made me wary, and so I moved my profit target to break even and took myself out of the trade.
I don’t want to get too confident after the last trade, and with the D1 EQZ so close by I feel I should be more cautious.
I manually closed out the trade for a +3.85R profit as price moved very close to my 4R target. I didn’t know if price would touch the D1 EQZ before moving back up, so felt that closing manually at slightly below my target was the best option.
I’m very happy with my entry, trade management and read of the market to get the most out of this move.
I entered the trade at the 5min ema, and set a couple of LiP levels to cover myself. I had to resist the urge to close out the trade as price rose back up to the GZ after narrowly missing the LiP1 trigger.
I’m aiming for a move down to the D1 EQZ at 13167.33, to give me a +4R profit.
A decent 1min MAB formed here, however I passed on it as I was waiting for a higher timeframe confluence with the 5min ema and/or 15min ema.