DislikedThis is the time of day I come into this thread and talk to myself.
Yesterday I showed an unsuccessful trade at a level where the supply had been removed, then I walked away from the markets to miss the short at the next supply level up.
Today I want to talk about my choice of supply zones on the chart in the post I'm quoting....Ignored
I've circled the minor supply level I mentioned.
Highlighted with white arrows is the result of institutional orders, notice how strong the sell orders were, illustrated by a strong down move. Now look at the demand, which is illustrated by the feeble up moves.
I would love to see price make it to the green levels and show me one of two things on the 5m or 10m (or even the 15m)
1) Rejection wicks
2) Engulfing
I like my rejection wicks to be very prominent, and my engulfings to be very dominant. This doesn't always happen, and I miss some decent trades because of it, but I'm in it for consistent % growth not pips.