Just bringing us back to PRZ zones
Trade active:
HTF just looks like a tag of the 9 EMA, institutional bias before a short down. We're loading up for the LKZ down, yesterday was brought up for the NYKZ, here we gooo...
Order cancelled:
I got a little eager beaver, but didn't follow my three reasons for a trade, patience young boy:
3 Reasons for a trade:
1) Location - good, in PRZ BUT did not wait for.....
2) Momentum - confirmation on the hourly, but as you can see here on MACD, should be coming
After this, looking for 3rd reason....
3) Market structure - once the macd confirms and turns, then will look for M structures to take a take.
Speaking on location, HIGH octane trading, but if you know about Single Ticks (green boxes), then you go ABOVE previous days session highs, and you see the position lining up with top of value on VP and 886 fibs.
Will update same trade ONCE the MACD confirms.
3 Reasons for a trade:
1) Location - good, in PRZ BUT did not wait for.....
2) Momentum - confirmation on the hourly, but as you can see here on MACD, should be coming
3) Market structure - once the macd confirms and turns, then will look for M structures to take a take.
Speaking on location, HIGH octane trading, but if you know about Single Ticks (green boxes), then you go ABOVE previous days session highs, and you see the position lining up with top of value on VP and 886 fibs.
Will update same trade ONCE the MACD confirms.