There were a few other similar setups today but I missed them except GBP/CAD. Look at the EN 1H chart.
Ignored
Very nice a trap spiking into obvious supply is a very powerful setup. Not been focussing on the crosses much recently. Here is a trade I took last night as per my tweets.
1. H4 - moving into clear supply.
2. H1 - small FB of the previous H1 swing high - not enough to take by itself but it's obvious price is going to spike up into the supply zone.
3. M5 compression moving into the supply - that coupled with the H1 FB an the clear H4 supply of course was enough for me to take a trade short @ 1.0360.
4. M15 rejection pin closing below the previous H1 swing high - this was the reason for me entering another position @ 1.0354.
Both positions had 7 pip SL's.
I had a variation of the two entries across a couple of accounts and on a conservative account I closed 50% 1.0330 and then 50% of the remaining position @ 1.0180. On a more aggressive account I had the M15 pin position only and closed 75% of this @ 1.0181 for a +18.5R win
