Trade Analysis

June 2018

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June 2018

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Thursday 28th

08:55

GZ M1 Buy FIBCON

Blackbox edge in play again providing buy opportunity from 61.8 retracement level, unfortunately I didn’t max it out for my 2R.

Wednesday 27th

09:21

GZ M1 Sell FIBCON

The retrace didn’t quite make Yes Low but I took the Sell trade and thankfully got my 2R.

Friday 22nd

08:04

Early Winner!

Well I am pleased to say I started the day with a winner… I did have to be nibble fingered and I managed to get it just right.

However, after starting well the fear of giving back stopped me from entering the buy trade that followed… it’s a fine balance but sometimes you have to trust your instincts, easier said than done eh?!

By the way, my early winner is the GZ M1+M5 MAB trade that Phill commented on, as shown below.

July 2018

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July 2018

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Thursday 19th

11:39

M1 1min MAB | Sell -1.40R

Ouch. I probably should have stepped away from the screen before this happened. Not the best of trading sessions this morning!

10:17

M1 1min MAB | Sell -1.00R

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.

 

10:09

M1 1min MAB | Sell

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!

09:58

M1 1min + 5min MAB | Buy -1.01R

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.

09:53

M1 15min MAB | Sell

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

16:17

M1 5min MAB | Buy +2.05R

It feels good to get a winning trade at the end of the day to cancel out the two I lost earlier.

14:40

M5 LL-HH golden zone + 5min equ. midpoint | Buy

14:27

M1 1min MAB + Hourly equ. midpoint | Buy -0.90R

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.

14:08

M1 1min MAB | Buy

10:41

M1 5min MAB | Buy -1.00R

Price stopped me out and interacted with the GZ from an earlier trade before turning around.

09:38

M1 5min MAB | Buy

09:10

M5 Low-high golden zone 15min MAB | Buy

This low-high GZ 15min MAB formed at a very similar time to yesterday’s low-high GZ trade.

Monday 16th

09:19

M1 Low-high golden zone | Buy +2.38R

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

09:07

M1 1min + 5min MAB | Buy -1.01R

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

14:53

M1 1min MAB | Sell -0.99R

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.

09:07

M1 5min MAB | Sell

I’m seeing them form, I’m not sure what’s holding me back from hitting ctrl+e.

Tuesday 10th

15:14, 15:32

M1 FIBCON | Buy, 1min MAB | Sell

14:27

M1 1min MAB | Buy

Monday 9th

14:20

M5 15min, hourly, daily MAB | Sell -1.16R

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.

13:19

M1 1 min MAB | Buy +2.57R

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!

13:13

M1 5min MAB | Sell -0.99R

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

09:52

M1 1min MAB | Buy +2.28R

Tuesday 3rd

16:45

M1 1min MAB | Buy -1.00R

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.

10:59

M1 FIBCON | Buy

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!

10:00

M15 15min MAB | Buy

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.

09:48

M1 1min MAB | Buy

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.

09:12

M1 FIBCON | Buy

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

11:15

M15 FIBCON | Buy

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. 

10:25

M5 1min MAB | Buy -1.05R

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?

08:53

M1 FIBCON | Buy

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.

08:35

M1 1min MAB | Buy

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!

June 2018

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End of Week 11-15 June

I ended the week +5.98R with a 57.1% strike rate, though relatively few trades were taken. Paying more attention to higher timeframe structure could have eliminated a couple of the losing trades.

I changed my account settings midway through the week to better reflect what I would be trading with when I go ‘live’.

 

Friday 15 June

11:00

11:00

As Alex had anticipated in a blog alert, price moved up through the 15min MA towards the open and yesterday’s close, before beginning it’s move down towards the bottom of an hourly equ. zone at 12975.

An impulsive moving pushing through previous support, retrace to 61 fib level, 1min MA and the top of the hourly equ. zone at 13103 which should act as some resistance. Stop placed above hourly bull channel and 5min MA. TP pulled down to 3R level just above the bottom of the 5min bear channel and daily bear channel midpoint.

Thursday 14 June

10:50  |  13:45

10:50

Impulsive move to lower low, 61 fib level confluent with the 1min MA, 5min MA and 5min bear channel midpoint. Stop placed above the open, hourly bull channel midpoint and 5min equ. zone midpoint. Once again I didn’t take notice of the 4hour MA coming up from below. Ignoring higher timeframe structure seems to be a theme for this week.

13:45

At 14:45 the bulls took control and pushed price up through the daily equ. zone level and the daily bull and bear channels that had been acting as resistence for the last week. (Main Refinancing Rate announcement?)

Impulsive move and higher high after after a brief period of consolidation, retracement to the 61 fib level and confluence with the 1min MA. Stop below 5min and 1hour bull channels.

Wednesday 13 June

13:10  |  14:58

13:10

Higher high after an impulsive move, but the top of a daily bull channel and hourly bear channel sent price back down strongly to the hourly MA. Once again, I need to pay more attention to the higher timeframe structure.

14:58

Impulsive move through a daily equ. zone level for a lower low, and the 61 fib level fell nicely on the underside of the daily equ. zone for the retrace. Perhaps this was playing with fire as price had been bouncing off the hourly MA, but looking at the impulsive move I felt that the bears were strong enough to push price back down.

A nice setup, but with the hourly MA hanging around, maybe I was a bit lucky with this one? I think I’d still take it again!

Tuesday 12 June

10:05

10:05

Lower low, retrace to 61 fib level, midpoint of 5min bear channel and microzone. Took the trade after some hesitation – I should have taken the trade at the first touch of the 1min MA – with my stop above the open, yesterday’s close, a daily equ. zone level, the 5min MA and the top of the 5min bear channel.

Monday 11 June

12:10  |  12:40

12:10

Sell off from an hourly equidistant zone to create a lower low, retrace to 61 fib level, the top of a 5min bear channel and the 5min MA in play. Didn’t take the trade at the time, but could have ridden it down to the bottom of the 5min channel for 4-5R with a stop above the hourly equ. zone level.  

12:40

Impulsive move up from the low of the day, bought at yesterday’s close and the bottom of a 5min equ. zone, with the 61 fib and the hourly MA between my entry and stop. Price was choppy before the retracement, and bears were in control when I entered the trade, with the 1min and 5min MA above to push price down further. Price moved down through the open to the daily bull channel midpoint – which I had not noted – before moving up.

Would not take this trade again.

June 2018

by

Fri 29th June 2018

Thu 28th June 2018

Wed 27th June 2018

Tue 26th June 2018

Fri 22nd June 2018

Thu 21st June 2018

Wed 6th June 2018

Thu 7th June 2018

Fri 15th June 2018

Mon 18th June 2018

Tue 19th June 2018

Wed 20th June 2018

Fri 29th June 2018

07:44

I’ll not be trading today as it’s a great day to enjoy my birthday and go for a 50 mile round trip ride up the coast and back 🙂

However, I sat down just afer 7am to see an M15+H1 MAB that had just reached it’s point C at around 06:50. It had great structure as shown on the 5 min chart below, the 15 min chart also shows this clearly.

The reason this was a Grade A setup can be seen by Looking-Left. Yesterday evening produced a short-term HH, overnight the market went into a range before the impulsive move up.

Price retraced precisely into the Golden/Role-Reversal Zone which was precisely confluent with the HH from yesterday evening.

Once again note how good the structure is, all the setups posted to this blog conform to our trading edge. When setups like this come along it’s hard to talk yourself out of them 🙂

Blackbox will see you on Monday, enjoy the great British weather 🙂

Thu 28th June 2018

11:33

I was away from my desk for a while and have just returned to see that the bears are still in control and a decent Micro-FIBCON has recently formed.

Once again the Price Action Grid is capturing all the key turning points to produce high quality setups 🙂

Repetition repetition repetition !!!

The mind loves it when learning a skill, all the setups we put in the blog conform to the Blackbox Trading Edge, this latest one below shows how vital it is that the Golden Zone defined by points A and B line up with previous (Look-Left) Role-Reversal zones.

09:27

Had a late start but was in time to spot a great looking GZ M5 MAB, took it and got my +2R 🙂

I’ve not had a pure 2R for weeks due to the routine etc. so it felt good and was a 100% WTA! I knew this before I entered, that feeling I’ve mentioned a lot.

The only thing I’d maybe do differently is not have such a wide stop.

I’d also marked it up on the 5 min and 15 min charts and as you’ll see from the screenshots below they were totally supportive, thats why I liked it so much.

Here it is on the 1 min chart, note the confluence in the Golden Zone at point C.

Here it is on the 5 min chart. Note how points B and C precisely interact with Grid structure.

Here it is on the 15 min chart, note the key zones marked up.

They are vital to have in place when ‘Looking-Left’ 🙂

Ignore the FIB levels as I forgot to remove them from an earlier setup.

Point C can be seen to be perfectly on the hourly bull mid-channel level that had been resistance (Look-Left) earlier before the impulsive leg broke through it.

Wed 27th June 2018

16:05

I’m done for the day but just came in to spot this sell setup.

Please scroll down to see any other entries that I’ve added throughout the session.

After a strong bull move up price topped out at PW Low. I wasn’t at my desk but have just come in to see a great Golden Zone M1 Sell FIBCON.

You’d only take this if you thought the price action and Grid structure supported the switch to sell mode. The higher TF charts do support this imho 🙂 but easy afterwards!

12:15

Whilst enjoying the weather the following FIBCON formed, it’s decent with points A-B-C being found precisely at Grid stucture.

A second leg up resulted in the following Golden Zone M1 Buy FIBCON. The HH was at the top of a 5 min keyzone (12277.4).

Point A when taken from the bottom of a 5 min keyzone (12209.5) resulted in a perfect 61.8 (12235.5) retrace to the hourly bull channel. 

Our mission is to identify FIBCONs and MABs that have Golden Zones (ideally the 61.8 level) confluent with additional Grid structure.

We ‘Look-Left’ for Role-Reversal zones….

 

10:39

The bull spike formed a Golden Zone FIBCON which is shown below on the 5 min chart.

The 61.8 level (12222.1) was confluent with the top of the 5 min key zone (12225.2) and the bull/bear 5 min channel intersection.

The 12282.6 level is an hourly AND a daily key zone boundary so a valid point A for this type of structure.

It takes great anticipation and timing to trade these but with practice and daily repetition we believe it’s possible to master them!

10:05

The following screenshot shows Elaine’s winning trade for the same FIBCON mentioned below.

Well Done!

09:41

I just missed entering the sell setup because I was wanting my stop above Yes Low. If I’d also adjusted point A (12209.5) to be the bottom of the keyzone guess what?

 The 61.8 level (12177.6) was exactly where price reached.

Very very happy with the read and anticipation of sell setup. Need to work on timing, however, I resisted the temptation to chase price 🙂 though on this occasion it would have worked out!

The Trade Tool shows where I was waiting….

08:55

The bears are in control so the M5 MAB mentioned earlier has evolved into the following. Price is currently in a zone of SUPCON

08:34

Possible M5 MAB if price can get back above Yes Low and retrace deep enough???

Golden Zone right in middle of 5 min keyzone.

07:45

A decent GZ M1 FIBCON occurred just before 07:30.

I’ve highlighted the precise levels that the retrace reaches as a zone goes through a role-reversal (Look Left 🙂 ). When identified correctly they offer vey high value trade entries.

Tue 26th June 2018

16:47

Just came in from enjoying the sunshine to seethat price had continued to sell off and in doing so formed another great Golden Zone Sell M5 MAB perfectly confluent with Yes Low.

The move back down to the hourly bull channel at 12227 was a good target.

Note that the M1 MAB at 12225.0 would have been tempting in real-time, it did cause price to reverse to the bottom of the keyzone but then reversed again. 

I’m sure I would have taken the M1 MAB as it would have looked good in real-time.

Below shows the same setup on the 5 min chart. Once again the quality of the setup stands out when you ‘Look Left’ to see the earlier wick that marked what was to become a Role-Reversal zone.

These great setups display a consistent pattern of structural confluence, let’s filter all except these!!!

15:16

A winner at last but got greedy instead of taking 2.60R off the table.

I moved my target hoping for more after the bearish few days but today of course it didn’t play out. It’s a WTA for sure, I liked the A-B leg off the Open that setup the 61.8 level at 12291.1

The 5 min chart below shows where I should have closed out, the arrows marks the bottom of the range structure at 12262.5

Good to have a winner though not a day  – so far – when the bears are selling each retrace and driving price lower. The market is consolidating after such a bearish few days, when the market is consolidating it will tend to range, which is why I should not have moved my target below the 12262.5 level.

Below shows where the realistic profit target was based on Grid structure.

12:17

Just had a loser, I liked the setup and the only thing I didn’t like was price was bouncing up off Yes Low, effectively a double-bottom from yesterday.

I moved my stop 🙁 to cover the M5 MAB and an area that may have functioned as a barrier but not this setup.

Structurally I liked it, WTA but was too early. Price came up to where I’d moved my stop to which was above the 61.8 and M5 MAB.

The following 5 min chart shows why the trade I took failed BUT also why the setup was a sell. I did move my stop to the bottom of the golden zone but not the top which is where price reached!!!

A great sell setup, my entry was way too early as I’d missed the golden zone shown. 

An example of how important it is to ‘look left’ when determining point C.

09:58

The screenshot below is taken from the 4 hour and shows how price had sold off from point A to point B, starting just above and ending just below the daily key zone boundaries.

If price does bounce back up then maybe the Golden Zone that encloses the PW Low may come into play?

The 4 hour MA and previous wick that formed the PW Low will add their energy to the stream of confluence maybe? Also note that the 50.0% level is confluent with an hourly keyzone boundary (12428.2).

To reach it price will have to push up through some channels boundaries.

09:35

The following GZ M1 FIBCON was a good setup and worth a comment.

The 61.8 level was just below the top of the 5 min keyzone at 12327.4 when you take point A from the hourly and daily bear channels.

When you look to the left the previous wicks suggested it might want push up through the 61.8 level which it did until it reversed down to point D. I’ve used a black line to show that when price reversed it was doing so where it had used this level in the last hour or so as shown by the previous wicks.

Tough to trade but the core structure was there. Also, if you took point A from the High the 61.8 level is perfect.

Wished I’d taken it!

08:42

Back at desk this morning after the weekends ride and recovery 🙂 We had a great trip down to Hartlepool Marina, wonderful weather and scenary.

From now on the latest blog update will be at the top of the page.

Yesterday I did mark up a great M1 Sell FIBCON that reached the PW Low and the 61.8 before selling off.

The following screenshot was taken yesterday.

Today has been a bit rangy after more selling yesterday.

There was a pre 8am M1 Buy MAB earlier back up to the hourly & daily bear channels.

Wed 6th June 2018

Off to Scotland the day so packing this morning. Just spotted the following sell M1 MAB, was not at my desk but I like to think I’d have taken it, it’s a decent setup after a spikey London open.

The impulsive A-B leg that produced the LL clearly stands out, that’s what drew my attention to it when I looked at the chart.

09:25

Just having a coffee break and noticed a buy MAB after the spike up to form the short-term HH.

A tough trade to take as price is ranging, however, the golden zone I’d already marked up from earlier and the 12800 level provided support along with the M1 and M5 MA’s.

I’m not sure I’d have taken as I think I would have talked myself out of it.

Thu 7th June 2018

11:50

It’s a wonderful June day in Greenock but due to change tomorrow.

We’ve had broadband problems so am currently using my mobile as a hotspot. I’m not trading today but did notice a superb M5 MAB at 09:53.

It had a clear impulsive A-B leg to form a LL, point C was perfectly confluent with the 61.8 at 12874.5,  the hourly bear mid-channel, the daily keyzone boundary at 12873.5, just below the hourly bull channel and last but not least the M5 MA.

Also note how the 5 min chart shows the bear channel acting as resistive confluence.

 

I’ve just noticed another superb M5 MAB that formed at 10:50. Not such a standout impulsive A-B leg but still a LL with point C confluent with the 5 min keyzone boundary at 12860.1 and the M5 MA.

This is a good example of how the earlier M1 MAB at the mid-line (12852.3) was not structurally a value setup, the M5 MAB was clearly a value setup.

14:10

I’ve just looked at the charts to see yet another high quality M5 MAB that took place at 13:48.

Once again the M1 MAB was structually poor value, it was the M5 MAB at 12844.5, the 61.8 and the 5 min keyzone boundary that offered the value.

It’s always easy afterwards but how cool if you can ‘Be The Bear’ and wait patiently for such high value setups 🙂

In real time it wold have been tempting to enter the M5 Sell MAB at 11:41 but even if you did then the traders equations saves the day. Potentially 3x2R winners – 1x1R = +5R 🙂

I’ve just noticed it was followed by decent M15 Sell MAB at 12:00

 

 

 

Fri 15th June 2018

11:50

I’ve just noticed the bear spike down below 13103, good call so far.

The first LL at 10:57 provided point B for either the M1 or M5 MAB that followed, the best value was the M5 MAB at 11:16 at level 13109.0

The next LL was followed by an M1 MAB that was a GREAT sell structurally because it was using the first LL as a Role-Reversal level at 13086.6

Good luck today, would like to have traded yesterdays bull spike day that followed the FOMC Wednesday evening.

Note how well the Grid captured yesterdays bull candle, after moving up all day it topped out at 13167, confluent with the bottom of the daily keyzone and the daily bull channel

Structurally the question is “Was yesterdays bull spike for real, if so how deep is the correction before another leg up”

Blackbox are going to have a crash day since it’s too windy for a ride and we’ve got plans this weekend, a day of relaxing is called for 🙂

Mon 18th June 2018

07:50

Just had a +0.40 sell M1 MAB winner but had I not moved my TP then it would have been a +2R.

Pleased to have a winner after not trading for over a week but on this occasion should have left the TP alone, look how close it was to being stopped out, it was a bull M5 channel that kept it in the trade.

First day back at desk today, will trade this morning then plan to update blog tool.

09:57

Was away from desk and just spotted a great GZ M5 MAB sell setup!

Tue 19th June 2018

10:15

Not traded this morning, at 6am I was raring to get on with the blog alert feature on the Trade Controller. It will make it easy to send alerts plus they can be automatically displayed as soon as they are detected including sound 🙂

Price has continued the sell off after last Thursday’s bull spike after the FOMC announcement. As of this morning it’s moved down two daily bull channels since it’s high last week.

I noticed the GZ M1 FIBCON at 08:39 after the London bear spike. Tough to trade but the 61.8 level offered best value at 12647.0  and it was confluent with the daily and hourly bull channels.

Below is a video on how to use the blog update/alert tool.

 

Wed 20th June 2018

09:35

I arrived at my desk at 08:30 due to a poor nights sleep thanks to a migraine that came on late last night.

It’s still active so was not planning to trade BUT ended up taking a sell trade that resulted in a loser. The setup was good but I did not mark up point A correctly at 12760.0 so entered too early.

Note how perfectly price retraced to form point C at 12736.8, it was also an M5 + M15 MAB!!!

I’m going to blame my lack of precision on brain fog 🙂 because the more I looked at it afterwards it was a superb A-B-C setup as shown.

I’m also pleased I did not move my stop but on this occasion it would have kept me in the trade.

13:05

Interesting sell setup maybe???

Did not work out but Would Take Again. Structure on the 5 and 15 min charts were also supportive.

Thu 21st June 2018

09:11

Interesting M5 MAB maybe??

It might not pullback that far but there’s good confluence if it does.

09:32

Another take on the setup with the M5 MA moving down???

09:25

I took the M1 MAB at 07:18. The 2R was on the Open and eventually came in. I should have left it alone but moved my stop to reduce risk.

WTA though the chart comment should “Good setup” and not ‘Great’.

10:17

No M5 MAB so far though the following FIBCON turned out to be the sell setup.

I was very close to taking it but talked myself out of it.

10:30

Price has sold off down to the bottom of the daily key zone at 12577.5, the daily chart shows this clearly, will it bounce back up into the zone or carry on down?

10:58

No M5 MAB so far though Golden Zone FIBCON sell setups are there as shown below.

I did consider the sell at 12595.6 but talked myself out of it 🙁 due to the zone of SUPCON I was selling into. I reasoned that it might move up to meet the M5 MA where another Golden Zone could be drawn.

The earlier LL turned out to be point A at 12622.5 and on this occasion and it makes sense structurally, however, I was focussed on the M5 MAB at the time and didn’t mark this up until after point C was clear.

11:30

Still interested in the M5 MAB that may happen soon.

11:56

Took the M5 MAB but the bulls have stepped in so instant loser!

I stayed out earlier due to the zone of SUPCON price is in but talked myself into the first M5 MAB of the session. I moved my stop to protect it but not a good call this time.

Whilst waiting for the M5 MAB I talked myself out of two sell setups. I Would Not Take Again due to the context and area of SUPCON I was selling into.

As mentioned earlier, there was a high probability price would bounce (at least temporarily) back up ino the daily key zone off the 12577.5 level.

12:17

The more I look at the trade the more I see why I wouldn’t take it again due to context. I’ll also blame some of it on not having traded for the last few weeks and not feeling tuned into Price Action rhythmns 🙂

The M5 MAB was quickly followed by the M15 MAB which would have been a winner!

 

15:21

Been outside cleaning bikes ready for the weekend and just came in to see this superb M1 MAB. Point C was perfectly confluent with the 12556.2 key zone boundary plus the MA and the LL made 29 mins earlier is now role-reversal mode.

Price has now broke below the PM Low so as Alex mentioned, expect further weakness. It is currently testing a mid-bull/bear daily channel intersection.

 

Fri 22nd June 2018

08:28

I did not trade this but whilst in a short-term range a decent sell MAB formed not long after the London open. Trading these requires total focus and timing but the FIBCON structure is there.

This is a test bookmark link

08:35

Also, remember yesterday the M5 MAB loser I had after waiting all morning. Take a look at what the bull spike formed on the 15 min chart.

A perfect GZ M15 MAB.

Had I marked that up then maybe I would have passed on the M5 MAB. When point A is at the hourly bull/bear intersection the 61.8 level is perfect.