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Wed 15 May 19

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Thu 16 May >>

00:00

10:15

UPDATE: M1 15min MAB | Sell

I was presented with a second chance at taking this trade, however price had already acted as predicted, moving down from point C to the H1 EQZ midline and D1 Bear Channel, which supported price, moving back up to the D1 EQZ and Yes. Close.

I felt there was a good chance that price could push up further, to the Open, the Daily Hi-Lo GZ 61.8 level and the 4hour ema, so I did not take the sell trade.

09:53

M1 15min MAB | Sell

I was waiting for a move closer to the D1 EQZ, around where the ‘C’ marker is placed. The 15min ema was higher and closer to the D1 EQZ at the moves’ peak, and I was waiting for a touch of the 15min ema before entering the trade.

I was being quite picky on my entry, as I had doubts about the trade and wanted to get the best value I felt was available. I would be trading back down into the D1 Bull Channel and H1 EQZ midline, which carried risk. Also, my Stop Loss was sitting below the Open, which would be seen as a target for price, and below the higher timeframe Daily Hi-Lo GZ 61.8 level.

Thu 09 May 19

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Fri 10 May >>

11:52

M1 15min MAB | Sell | +1.01R

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.

Tue 07 May 19

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Wed 08 May >>

14:03

M1 1min MAB | Sell

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.

10:46

M1 FibCon | Sell

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.