Time of entry was 11AM
Reasons for entry:
- Clear downtrend
- 3rd TL touch
- Break and retest of structural support now resistance
- 38.2 fib rejected
- Well under both EMAs
- 1H bullish engulfing failed to close above res followed by doji to res. Entry was on the break of the 30m lows as a sell stop.
Lessons Learned: I dont usually take partials but here i closed partials first for 2% as my 0 fib level was being well respected. I then waited for the daily close and it failed to close below my 0 fib level however it closed below the blue daily support. In this case i would have been wicked out at BE but i should let them run in future, I trade for freedom not to be glued to the chats all day, LET IT DO ITS THING!
Reasons for entry:
- Clear downtrend
- 3rd TL touch
- Break and retest of structural support now resistance
- 38.2 fib rejected
- Well under both EMAs
- 1H bullish engulfing failed to close above res followed by doji to res. Entry was on the break of the 30m lows as a sell stop.
Lessons Learned: I dont usually take partials but here i closed partials first for 2% as my 0 fib level was being well respected. I then waited for the daily close and it failed to close below my 0 fib level however it closed below the blue daily support. In this case i would have been wicked out at BE but i should let them run in future, I trade for freedom not to be glued to the chats all day, LET IT DO ITS THING!