End of Day | No trades taken
Today was cut short as I’m busy this afternoon, so I’ve ended the trading session at 11am. I didn’t take any trades this morning, though there were a couple of opportunities that could have been taken.
I sat back during the first hour or so after market Open, as price seemed indecisive, and I wasn’t sure whether price was going to rise back towards the D1 Bull Channel as I had predicted at the end of yesterdays trading day. I was waiting for a break of Key Structure before entering a trade.
What I considered the best opportunity came after price made a decisive bearish move through the D1 EQZ at 11693.8, consolidated for a time, and then made another impulsive move to the D1 Bear Channel. At this point I felt that price might be aiming for the H1 EQZ at 11644, which had previously acted as Support and had created Yes. Low. I ended up passing on this trade as it did not completely conform to the trading plan. If price had reached the GZ, D1 Bull Channel midpoint and 1min ema straight after creating the Lower Low at point B, I would have entered the trade.
I marked up this trade in advance, but passed on it after the second touch of the D1 Bear Channel after the Lower Low at point B.
The first retrace only reach the 50 Fib level which wasn’t good enough for the Entry that I wanted, and after that I felt that the trade wasn’t on plan.