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.
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.