I chose to pass on this trade, as I did not want to Sell down into the H1 EQZ midline and H1 Bull Channel.
Price has been in a range today, and I can’t see whether Sell or Buy trades are the best option, so I am trying to be cautious when it comes to entering a trade.
Here you can see a FibCon not long after price started moving at the 7am Open. There was confluence with PM High.
I have also marked up the possibility for a Daily Lo-Hi GZ trade, with the a possible confluence of:
- 15min ema
- H1 EQZ midline
- H1 Bull Channel