I came very close to getting a hattrick with this one!
JUST stopped out, before price moving in the direction I predicted, and hitting my 2R target just above Yes. Close.
I managed to get a great entry for this trade, and I’d been waiting patiently for it.
Price spiked down through the Open, Yes. High, PM High, the 15min and 1hour emas, and I hit CTRL+E, catching price right at the turning point!
I drew up the Inner-Fib GZ, and placed my profit target at around 4R, just below the 50% Fib level. However, price bounced off the 4hour ema, and I felt happy with the +3R that price was sitting at, so I closed the trade.
I could’ve held out for +4R or +5R, however I’m happy I made the decision to close out for the 3R profit.
Price had already tested the H1 EQZ midline and risen back up near the high, so as it broke the 11600 line for the second time, I felt that this was the time for price to move down into the higher timeframe GZ, around the Open, Yes. High, Yes. Close and PM High.
I sold the micro M1 MAB with my Stop Loss above 11600 and my Profit Target well within touching distance, even if price couldn’t break the H1 EQZ midline fot the second time.
This screenshot shots the interaction with the H4 61.8 Fib level, pip-perfect at 11514.3 and creating the Low of the day.
I then anticipate price to start climbing, and marked out some potential buy FibCon and Micro-FibCon trades.
