15:23
M1 5min MAB | Buy | +2.00R
A clear impulsive move up to the H1 EQZ midline and retracement to a confluence of:
- H1 Bear Channel midline
- PM High
- 5min ema
- within higher timeframe keyzone taken from earlier price action
I let my Stop Loss be determined by the 2R Profit Target which I wanted just underneath the M5 EQZ boundary.
10:25
UPDATE: M1 failed FibCon | Sell | -0.84R
If I had left the Stop Loss alone, I would have seen my profit target hit, and around a +1R profit for these trades.
10:07
M1 failed FibCon | Sell | -0.84R
The first trade got caught out by a spike in price, but I felt the the setup was good and warranted another try, now that price had tested the level.
For the second trade, I moved the Stop Loss to break even after price broke down through the H1 EQZ.