themabtrader
Fri 10 May 19
I passed on this 1min MAB as it was too close to Yes. Close.
Thu 09 May 19
A small profit from what I think was a risky trade, but well managed.
I liked the way that price had been interacting with the 15min ema over the last few days, having got a 2R winner from a 15min MAB yesterday.
I noticed that price had already had what I would consider a strong interaction with the 15min ema today, occuring at point A in the screenshot, 10:15 GMT.
Other than that, there wasn’t much else right with the set-up. No Lower Low, no good confluence of key structure, some Role Reversal structure, but this was mainly at the H1 EQZ midline, which price had already broken through.
However, I felt that the 15min ema still had some strength left in it, and there was white space down to the H1 EQZ midline . I very nearly passed on this trade, but enetered at the last second and manually trailed my stop as price dropped.
Wed 08 May 19
I missed out on this trade as I was waiting for a 5min MAB or a move closer to the D1 EQZ midline, which never came.
Tue 07 May 19
A good impulsive move to set a new Low for the day, and retrace into the GZ confluent with 1min ema, M5 and H1 EQZ midline.
I passed on this trade for the same reason as the last, the I didn’t feel comfortable selling back down into the D1 Bull Channel support level. However, the strong impulsive move from A-B, pushing through the D1 Bear and Bull Channels could ahve been some indication that the Bears had good momentum.
I ended up passing on this trade as I was being wary about selling back down into the D1 Bear and H1 EQZ midline area. I was picky with the M1 MAB, as I wanted closer confluence between the 1min ema and the Open and Yes. Close.
Looking at it now, the D1 Channels should not have put me off, but instead encouraged me to take the trade, with the D1 Bull Channel pulling price down through the D1 Bear and H1 EQZ midline.
If I was worried about price changing direction at the D1 Bear Channel support, then I could expect a double bottom on the support level, therefore the 2R target being about that level would have made for a decent trade.
