Price did not push as far into the GZ as I wanted to get the best value on this trade.
I should have paid more attention to the Role Reversal candles to the left, as a keyzone drawn from the wicks of these candles would have suggested a better entry point for this trade.
This would have been a better trade than those that I took earlier in the day, as explained below, as it was a buy trade. However, with price retracing from the D1 EQZ midline it might not have been best to Buy back up into the Key Level, even though it would have worked out this time.
This screenshot from the H4 timeframe shows why the previous trades shouldn’t have been taken. At the end of last week, price had found a low at the bottom of the D1 EQZ, and had began moving up into the zone.
Therefore, I should have been looking for Buy trades and not taking a Sell!
Is this the beginning of a higher timeframe range within the D1 EQZ?
Tomorrow I anticipate looking for Buy trades up to the top of the D1 EQZ, depending on where price moves this evening/early tomorrow morning.
If price is able to break the top of the D1 EQZ and PW High, I will be keeping an eye on the Monthly ema as it comes into play.
I had convinced myself that this was a good trade, with the confluence of the 15min ema and Yes. Close within the Golden Zones of a few Fib levels.
I felt I was unlucky to be taken out by the spike in price in the first trade, and that price had tested the 61.8 level taken from a candle near the D1 Bull Channel, and so I entered the another trade at almost the same levels.
This proved to be a bad decision!