End of Day Review
+1.51%
3 trades taken.
2 winners, 1 loser, 0 break even.
Nice little setup, once price broke down what was a resistance previously, I pulled the trigger for a quick 2R.
I will catch you one day, I promise!
Bulls in control for now, let’s see where they drive price up to.
I am looking to sell near the 12135 level should price keep climbing.
In the meantime, any opinions as to why this trade shouldn’t have been placed? I am still happy with the trade though, but I want to refine my criteria selecting reversals.
Don’t mind the R value, I had to leave after 3 hours and 57 minutes on the trade and therefore closed it out. I had to admit that when I closed it, I thought if I didn’t it was going to be a loser.
Now, let’s focus on structure of the below screenshot. This is the kind of trades I should be taking every day. They seem to be the most reliable ones, regardless of how I then decide to manage it!
Price seemed to be on a bullish session, but I was on sell mode given the Thursday action. The 12135 looked to attractive for a retracement, having role reversal and the Fibonacci levels as support.
It was a long trade, but that is expected if you take it on the H1 chart as I did. Not every trade needs to be decided in 5 minutes, right? I am glad that I entered it, now it’s only a matter of managing it appropriately.
