DislikedI was watching this exact setup but looking for a TC off the 365. If the 1H trend line down had broken I would have taken a long. As it was it held further justifying the short. I didn't take it because I saw it limited by the 365 which is just below and I felt the risk was higher than I wanted. I have yet to make a trade in May and I am being very very select as to which ones I want to take.Ignored
I was watching the swings also expecting price to turn need the 365 MA but it never did but while watching I also did two short scalps that made 20 pips each shorting during the 15M pullbacks as price movement was trending very nicely.
Also when price was hitting the 365 current day's range was only 90pips - the current average daily range is 120 pips - this was hinting me that to make up for that 30 pips price had to reverse the current down trend then run all the way to the top and move another 30 pips - which seemed very unlikely so I felt confident shorting near the 365 and taking a quick scalp profit.