I really liked the High-Low Golden Zone with the 1 Hour moving average around. It didn’t hold price.
30 minutes later, price started to sell off and went all the way down. Unlucky.
Hang on, don’t you see a great winner there? Me too.
I entered and exited the trade for the same reason, that was the only problem. I entered the trade for FOMO (don’t want to miss a successfull MAB!) even though I wasn’t 100% convinced of the setup, but entering with fear made me look at how price was trying to push up again and again! As soon as I had a chance to exit, I closed the trade, only to see seconds after how price did what it had to do.
Price action does amazing things!
Yesterday afternoon after Wall Street opened I was looking for buy opportunities around the 11251 level as I believed a rebound was in place. I didn’t find any that gave me some good risk reard so I decided to close the charts and stop trading.
This morning I found that not only was a rebound in place, it formed a great double bottom that could have offered 2R very fast!
On the other hand, today’s price action shows a double top that I don’t know where is it going to find support, but the SUPCON level at 11251.0 and the top border of the hourly equidistant zone at 11261.5 look really attractive. It will be difficult though to find a good place to buy given the weakness shown lately, where sell trades seem to be the safest bet.
Let’s see what the market has to offer!
I was close to taking M5 Sell MAB but waited too long and decided not to chase price.
Always easy afterwards but it was a good setup with role-reversal RESCON at the M5 EQZ@11310.1, good entry, just needed a wee bit more time to play out.