- M15 showed down trend, but M5 dragon inclination seemed flat.
- M1 down movement broke dragon downwards with notable volume and retraced back up to dragon.
- A green candle tried to break dragon upwards but failed, followed by a purple candle.
- PA continued going down and I entered shorted, but just after the entry PA went up and reached SL.
In hindsight, I observed that before the EP on M5 chart, PA formed a higer high and a lower low, actually no obvious trend...
Vape, well done! You exited opportunely with a good profit.
I entered an almost same trade as yours but closed it too late.
UJ SHORT +1.9
- M15 & M5 dragons all headed down.
- On M1 chart, a red candle appeared after a small retrace to dragon, so I entered.
- PA started to go against me, but still below DO & 200EMA & my SL, so I stayed in.
- PA went back down again and broke 113.200 level, then retraced quickly, so I closed it manually with small profits.
EU M1 very FIFO CT scalp +101 (+3.4 avg. @ 30 lots added with momentum) See chart.....Not for the faint at heart as risky just running with MM's momentum as they play our key levels...
Note: CT scalp M1 but M5 retrace gave more confidence for entry confirmation by observing higher t/f and drilling down for entry. Indicators not much help just observing PA relative to key levels for S & R as MM's trade our levels.
- M15 overall trend is bearish. PA tried to break dragon and 112.700 with notable volume, but failed.
- PA went back down to dragon and broke it with notable volume.
- Switched to M1. PA had broken dragon and 200EMA with notable volume and retraced to dragon.
- An engulfing pattern appeared and when it became red and broke 112.600 I entered short immediately. It soon got TP within less than 1 minute.