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LachimHeigrim
Jun 7, 2021 3:10 PM

WHEAT: Short H1 BuOB after range+SFP Short

WheatOANDA

Description

WHEAT was weakest of grains in terms of price gains and CoT. Should be in seasonal weakness.
Price SFP'd D1 range highs and took liquidity from Fri. Several hours later a H1 bearish OB formed.
Price got trapped around D1 resistance and next candle after the OB closed as SS on both SOY and CORN, but giving neutral/bullish candle on WHAT giving better entry.

Entry: Market shorted around original planned entry (H1 swing low)
SL: Above D1 highs, around (but below) D1 ATR
TP: Range lows
Wrong: Impulse candle high.

Trade active

Market entry on 14:00 candle

Trade closed manually

Could not sell off. Finally held support and broke north.
Closed manually after H1 closed above previous spike and did not sell off immediately.
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