themabtrader
Mon 17 Dec 2018
I had my trade tool ready for both of these trades, having marked up the 5min MAB well in advance. Unfortunately, price didn’t quite reach the level I was looking for and I missed both.
A confluence of channels and key levels, with the 5min ema passing through.
There was a lot of resistance at the level marked in this screenshot with a thin black line 10820.
Wed 12 Dec 2018
The zone I’d set up didn’t get triggered. Had I entered manually, I would have comfortably hit the 2R level.
Tues 11 Dec 2018
I gave the trade space as it pushed up to make a new high after my entry, but as it came back down I got nervous and moved my Stop Loss just above the 10835 level.
At one point there was +1.5R on the table, perhaps I should have taken that and exited at the 1min MAB.
I believe that price will now continue to fall towards the 5min ema. I probably should have left my Stop Loss be and let the trade play out.
FibCon with short-term channel for confluence. Stop Loss inside an area of role reversal. Resistance at the Inner-Fib levels, could and possibly should have taken profits in this area, even though price later went on to hit the 2R target.
The price will first reach the intersection of the H1 Bull Channel and H1 Bear Channel midline. Then, the 61.8 Fib level at 10797, the 10800 level, the D1 EQZ at 10808 and the H1 EQZ midline at 10814.
They are not all in a tight confluence, so I am unsure about this one. The 4hour ema is lurking just beyond these levels and I’m wary that price could push through to meet this moving average.
A good set-up for a 1min MAB trade. At the time of the trade, Entry would have also been inside the Hi-Lo GZ.
This trade would not have worked out, however I believe the set-up was good enough to warrant taking this trade. The only thing that would have put me off would be buying into the D1 Bull Channel upper.
Mon 10 Dec 2018
Fine margins, but this one goes down to not trusting the Inner Fib. For the sake of about 0.3R I could have moved my profit target and brought in +1.7R.
Clear set-up, with movement within the M5 EQZ, M5 channels and the short term M1 channel.
I was looking for price to move deeper into the channel intersection here before entering the trade.
This one would have worked out if I got a spot on Entry.
I was expecting some interaction with the 1hour ema, which pulled price down to the bottom of the M5 EQZ.
Had I taken this trade, I think I might have exited the trade at the first bearish candle which broke the 61.8 Fib level. This might have been a case of a trade best walked away from once entered.
Price seems to be interacting nicely with the short term channels.
I’m anticipating price to test the H1 EQZ and then move up to the D1 EQZ at some point, however I’m not sure how much momentum the Bulls have behind them currently. Perhaps a drop to the D1 Bull Channel and 10700 level first. Is a 15min MAB on the cards?
The 10808 D1 EQZ level is looking like a good place for RESCON, along with the H1 EQZ midline and the 10800 level.
Will price be able to push through the D1 Bear Channel midline to reach this area of confluence?
Thurs 06 Dec 2018
If I had taken the trade as I had set up, it would have been fine margins as to whether I’d hit the +2R profit target or not. Positioning the stop just inside the bottom of the short-term keyzone rather than on top of it, would have seen a more comfortable 2R.
Wed 05 Dec 2018
Channels that price seems to be moving in.
Price is currently sitting just above the D1 Bull Channel and EQZ, and I’m anticipating a move up to D1 Bear Channel next.
Price made a high right at the 11259.4 level, which I like to see as it gives more confirmation that this is a level to consider key structure and add to RESCONs and SUPCONs.
Small potential for ~1R with the first touch of the 1hour ema, but the 1min MAB pushed price up to break the D1 Bull Channel and EQZ shortly after.
I have been noting the price interaction at the first touch of the 1min ema after a RESCON or SUPCON as the 1min MAB more often than not seems to send price straight back into the confluence.
Aside from the large gap up over the weekend, price seems to be following this trendline this trendline nicely. Will price be able to break the D1 EQZ midpoint and rise to the confluence of the trendline + GZ at 11350?
What relevance does the gap up have? Is this foreshadowing a significant rise in price? Is this the Bulls final efforts to assert themselves before price continues downward again?
Not shown in these screenshots, there is some significant structure in the D1 Bull and Bear Channels, along with the D1 EQZ mindline, sitting between where price is currently and the Daily ema. Will these levels hold and resist price?
