-Price failed to close below 50% of the Daily RDRB price range. -Price failed to close below Tuesdays low, as well as failing to close below several other previous daily lows.
-Daily DOL is Wednesdays high.
-I need to see H4/H1 discount arrays being respected to then look for bullish displacement entry triggers on M15/M5
Comment
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Trade hit target during London session. Price traded into a bullish array (H1 swing low), and rejected with a strong M5 bullish displacement. RR on this trade was lower than I like, but the directional bias was valid.
I didn't want to hold beyond PDH due to major economic news coming out in NY, and anticipating the market will likely wait to expand until the news release.
Trade closed: target reached
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Target reached. Looking good for further upside now too.