Happy New Year, and Welcome Back 👩🏼💻
I hope everyone has had a great start to the New Year, and is ready for a better trading year ahead!
As of now, It looks like GJ may be turning around to the upside. However, I did take a cheeky day trade. So, lets talk about how I entered and why.
First off, as you can previously see by looking at the 1 HR.. Buyers were stopped multiple times around 180.500. I saw price make a BOS and was coming up to a bearish order block. Now, Since the down trend, I wanted to see how price would react once it got there. As I see it rejecting, I move down to 15M to get more information, and wait for more confirmation to be sure of the direction. Once I saw price stop at a previous 15M OB (181.000 area), and started making more bullish momentum.. it was almost time to execute. Around 181.500 was my entry because after I saw rejections on the moving averages, and candles closing above, price was still pushing up.
Entry: 181.500
TP: 183.000
SL: 180.800
I set my TP at 183.000 because buyers were also stopped here multiple times.
Therefore, from here I am looking for price to do a combination of either of these confluences for another buy:
1. Fill in imbalance
2. Come back to a previous OB, bounce off and continue.
3. Break Psych Lvl with retest + continuation (ex: 183.000)
4. Moving Average cross over on Higher TF.
Lets see what the market gives us 🤞
*DISCLAIMER: I am not a financial advisor. The ideas and trades I take on my page are for educational and entertainment purposes only. I'm just showing you guys how I trade. Remember, trading of any kind involves risk. Your investments are solely your responsibility and not mine.*
I hope everyone has had a great start to the New Year, and is ready for a better trading year ahead!
As of now, It looks like GJ may be turning around to the upside. However, I did take a cheeky day trade. So, lets talk about how I entered and why.
First off, as you can previously see by looking at the 1 HR.. Buyers were stopped multiple times around 180.500. I saw price make a BOS and was coming up to a bearish order block. Now, Since the down trend, I wanted to see how price would react once it got there. As I see it rejecting, I move down to 15M to get more information, and wait for more confirmation to be sure of the direction. Once I saw price stop at a previous 15M OB (181.000 area), and started making more bullish momentum.. it was almost time to execute. Around 181.500 was my entry because after I saw rejections on the moving averages, and candles closing above, price was still pushing up.
Entry: 181.500
TP: 183.000
SL: 180.800
I set my TP at 183.000 because buyers were also stopped here multiple times.
Therefore, from here I am looking for price to do a combination of either of these confluences for another buy:
1. Fill in imbalance
2. Come back to a previous OB, bounce off and continue.
3. Break Psych Lvl with retest + continuation (ex: 183.000)
4. Moving Average cross over on Higher TF.
Lets see what the market gives us 🤞
*DISCLAIMER: I am not a financial advisor. The ideas and trades I take on my page are for educational and entertainment purposes only. I'm just showing you guys how I trade. Remember, trading of any kind involves risk. Your investments are solely your responsibility and not mine.*