Disliked{image} 11;40 HRS...Closed trade at 1.8384. Have a good weekend, Rocky!Ignored
I like to take trades ~618-786 (although I don't always follow this, this is where I feel most comfortable playing a pb) and I'm going back through pa playing with confluence. I'm using a swing to draw a fib then looking around to see if I can get a tl to pass through the 50-786 in order to play a mid / deep pullback. If I can then I look for structure in the zone to line up close to the tl, then add in the fib exts to see about further confluence. So a little different than your order of operations.
I like how it gives you a 'bulls-eye' to aim for rather than trading the pullback blind once it reaches the 50-786.
All of this is done in hindsight however which we know how that goes. Doing this during market hours will be much more difficult, I already know.
Using Friday's session, there were a bunch of setups that occurred that would have made trading a little bit easier. Drawing out these confluence zones kind of makes it easier psychologically to determine higher-probability setups vs trading any pb that comes along.
More research required but so far I do see benefit by stacking odds this way in addition with Damian's teachings.
The screenshot I'm including shows 4 setups. It might be hard to follow at first but when you single out each setup it will make more sense how these would have been played.
Edit - 2nd screenshot shows a setup I missed, so 5 of these types of patterns. Pretty cool. I don't usually use the pitchfork because I never seem to get them setup correctly where price respects them in the future but just happened to notice it added confluence in this example.