SEPT 23: Swing Failure Pattern Done Correctly?SEPT 23: Swing Failure Pattern Done Correctly?
I guess this is it. I got stopped out once though, but I had conviction in the trading idea so I re-entered with a stop limit.
It went well.
What I did right on this trade though?
I followed my trading plan:
1. Top Down Analysis
2. Price didn't break through the HTF swing point, just went close to it. Swing Failure Pattern.
3. Divergence + Overbought conditions ongoing
4. Volume profiles indicating POC is below price, means sooner or later it'll get traded back into.
5. Entered on a 15min sweep + 5min FVG. The initial entry didn't work though, and did another sweep before going back down.
All's good.
I followed my trading plan and did not enter impulsively after the initial loss.
I guess this counts as a good trade.
oh, and I screen recorded my analysis earlier. might be of some value, might be not. either way this is a good thing. it keeps me from entering trades sporadically.
