Thursday 19th
Ouch. I probably should have stepped away from the screen before this happened. Not the best of trading sessions this morning!
This was another trade that I did not feel good about before I took it, but hit ctrl+e anyway because I just wanted that winner after another missed trade.
This was the trade that I have should have taken.
Strong impulsive move, GZ 1min MAB, daily equ. midline nearby to put SL behind.
I missed this because I was fiddling with zones and fib tools taking screenshots of my other bad and missed trades!
After another look at the higher timeframes, I felt that price might try to have another attempt at the daily bull channel and a touch of the hourly MA.
The 1min and 5min MA were confluent with the 61 fib level and the daily equ. midline would provide support.
I knew something wasn’t really right with this trade, and I was taking it because I was annoyed that I’d missed the 15min MAB. That initial feeling was proved right when price took me out and moved down to the 5min bull channel lower.
This set up began a series of embarrassing decisions.
A great set up, with the 61 fib level, daily bull channel and 5min equ. zone confluent. I got distracted by a knock at the door as price pushed through resistance at the daily equ. midline, when I returned 10 minutes later, the best entry was gone.
Wednesday 18th
It feels good to get a winning trade at the end of the day to cancel out the two I lost earlier.
The 1min MA, an hourly equ. midpoint and the 50 fib level came together and I thought it would be enough to support price, however a higher timeframe move was in play; shown in the next trade at 14:40.
Price stopped me out and interacted with the GZ from an earlier trade before turning around.
This low-high GZ 15min MAB formed at a very similar time to yesterday’s low-high GZ trade.
Monday 16th
Inspired by Phill’s perfect 15min high-low golden zonetrade at the end of last week, my attention was on the low and high of today’s session. I took the trade at the 61 fib level with my close below yesterday’s close and the top of a 5min equ. zone as support. I was looking for price to make it’s way up to the daily horizontal level where I placed my TP.
I got somewhat lucky just after I took the trade and almost got stopped out, but the relevance of the Blackbox structure was shown once again, as price touched the top of the 5min equ. zone before turning around. Yesterday’s close proved good support and once again I had to sit on my hands as price bounced up and down; more than a few times my finger was hovering over the ‘close trade’ as price was at break even, and even more so on the bearish move towards the end of the trade.
I probably should have kept my TP at 2R and taken profits the first time price reached that level. I ended up taking 2.38R but feel I was lucky that price tested the top of the 5min bull channel for a second time.
Friday 13th
For some reason I was missing the screenshot of this trade taken at the time, so here is a screen shot taken on Mon16th, missing the key structure.
A wider stop would have seen this trade hit it’s target.
Thursday 12th
I feel like this was a decent set up. Higher timeframes show that price was testing the hourly horizontal level for the last time before moving up.
I’m seeing them form, I’m not sure what’s holding me back from hitting ctrl+e.
Tuesday 10th
Monday 9th
After a 3R profit, I was feeling quite confident in my read, and was next expecting price to be sent back down by the 15min, hourly and daily MAs.
The bullish gap up made me hesitant to take the trade as I thought it might give price enough momentum to push through the MAs. After seeing some resistance I entered a sell trade, which of course was right when price rose to stop me out before a bearish move back down to the open.
It’s really satisfying to see price do what you expected it to do. Anticipating the move up to the golden zone and moving averages, I moved my TP and took 2.97R.
I had to hold my nerve during the long bearish candle off the open, but I sat on my hands and prayed to the gods of the DAX and it worked!
The gold coloured zone here is drawn from the 50-61 fib levels of a higher timeframe 15min MAB set-up. As price moved up impulsively from the lows, I predicted it would interact with the 5min MA and retrace to around yesterdays close before rising again the meet the 15min, hourly and daily MA confluent trio at the intersection between the 5min bull and bear channels.
I kept my stop tight in order to squeeze the 2R target in above yesterday’s close and feel I was unlucky to be stopped out.
Wednesday 4th
Tuesday 3rd
The football was a bit boring, so I opened up the chart to watch on the side. What do you know, trading whilst distracted doesn’t work!
The move to create the set up wasn’t the best, with a lot of wicks. 5min MA forced price down through my stop. Price rose to meet what would have been my 2R target not long after, so I wasn’t completely wrong, but I shouldnt really have traded this in the first place.
I missed out on this set up as I was waiting for a retrace to the 1min MA and 61 fib level drawn on the full length of the move.
Price turned around spot on the 61 fib level drawn from the bottom of the 5min equ. zone up to the top of the move, showing the importance of the blackbox structure.This was something I should not have overlooked!
As price dropped off quickly, I noticed the potential for a 15min MAB. 61 fib level and daily bear channel midpoint were confluent. There was room for a stop below the open, yesterday’s high and close, but more confidence in the move and a tighter stop there was more profit in this trade, 4+R up to the daily bull channel, which was just out of shot at the top of the image.
Strong impulsive bull move, 61 fib level fell nicely at the intersection of 5min bull and bear channel midpoints, an hourly bull channel midpoint and the 1min MA in play. The M5 timeframe also showed a nice set-up however, so I held fire waiting for the higher timeframe move, which ended up being the right decision.
Nice set up with an impulsive bull move into and up to the top of a 5min equ. zone, retrace to the bottom of the zone, confluent with 61 fib level and 5min MA in play. Potential 3R back up to the top of the 5min equ. zone with a fairly tight stop or even more up to the top of the 5min bull and bear channels. I’ve been very hesitant on taking trades recently, and really should have taken this one as I watched it play out.
As price dropped off quickly, I noticed the potential for a 15min MAB. 61 fib level and daily bear channel midpoint were confluent. There was room for a stop below the open, yesterday’s high and close, but more confidence in the move and a tighter stop there was more profit in this trade, 4+R up to the daily bull channel, which was just out of shot at the top of the image.
Monday 2nd
The better set-up was on the M15 timeframe 45 minutes later. “Look left” role-reversal at the 50-61 fib level and yesterday’s low to act as some support.
I didn’t take this trade as I had already traded this move on M5 timeframe and was wary of overtrading. In hindsight I should have trusted the structure and my instinct and gone for it.
Impulsive move to higher high, role-reversal within 50-61 fib zone, 5min MA and 5min bull channel. I could have positioned the stop further below 15min MA for better protection, but it wouldn’t have mattered in this case anyway.
I liked this set up and I think I’d take this trade again. Should I have been more cautious of price being drawn to yesterday’s low?
Price moved up strongly to create a higher high after a confluence of the 1min and 5min MAs, retraced to the 50 fib level with yesterday’s low as support. I didn’t take this trade as I was waiting for a deeper pullback to the 61 fib level and the 1min MA moving up to meet it.
Impulsive bull move after failing to break the daily equ. zone midline on the third try. Retrace to the 61 fib level and 1min MA with support from an hourly equ. zone lower boundary.
I don’t have a good explanantion as to why I didn’t take this trade!
Hi Joel,
Great Golden Low-High buy trade winner at approx 9:30am on Mon 16th 🙂
I did notice this when I returned home from taking the car for its MOT. The 61.8 was at approx. 12550.0, just above Yes Close with price bouncing perfectly off the top of the 5 min eqizone at 12542.7 as you noted.
Well done on taking this one, easy after the event but in real-time not easy, it conformed to the Golden Low-High pattern with the Open being just above the Golden Zone. After the bounce price struggled to hold above the hourly bull channel and the Open before continuing on down.
This one occurred very early in the session, well spotted. As I mentioned last week, these form regularly throughout the month, we just don’t know when. However, because points A and B are always going to be the High or Low it’s easy to keep an eye out for them.
Ideally, we want the Golden Zone to contain an intraday key level such as the Open plus additional Grid structure. The momentum of the B-C leg might result in some overshoot like this one which can make them tricky.