End of Day Review
+1.26%
2 trades taken.
1 winners, 1 losers, 0 break even.
And finally managed to trade a REVFIB after several weak attempts!
Price moved up to form a new High, already in an area of resistance if we look at price in the past days. After the M1 moving average failed to hold price, I was already waiting for price to come back down towards the M5 moving average. It didn’t touch it, but it was good enough to send price back up. I took the trade at the 61.8 level of the retracement, and voilá!
I feel like price wants to keep going down if it brakes the 12470 level, but after two days of bad results, the sensitive approach was definitely to take profits.
Great battle between bulls and bears at this level! There was role reversal marked with the red line and the M5 moving average coming down.
Bulls took over once they managed to break the resistance at my entry level, I had the chance to exit but I prioritised leaving the trade alone. Once manage to not to step into my trades naturally, next step will be to manage some of them according to price action.
