Backed out, 1 Hour presented NS a few minutes after
A NS bar popped up on S zone meaning uptrend could possibly continue if confirmed by current candle
Edit*
Initial idea was accurate, next time a 1 Hour cancellation bar should be confirmed by following candle, if it's to make me back out from a trade.
Emotions kicked in on this one and I backed out .... ( I managed to get it to the near top peak with this one)
I think I should have waited for close rather than the simple 50% touch, who knows, next time in a similar situation it might continue going up, I should rather wait for stop vol/NS
This way I would have made 10 pips less, but at least I'd know I'm not letting the emotional side kick in.
Closed GU
Another 30 Pips gained
Closed after 5 Min Vol spiked too high, which .... is bad in my book
Edit
I don't think the high volume should have cancelled the trade. (Also....I shouldn't look at 1m, I noticed high stop vol etc and thought the move was over)
Slightly unsure about this one but the high vol long wicks kind of tip off down movement
1m ND entry
Edit...
Starting to think I may have mistaken possible accumulation retest phase as redistribution.....
Either way I'm sure I'll know by the end of this trade.
T14 Breakeven, might reenter if further signs of bearish/ ND
Cancelled at the inside bar after the high vol bearish bar. (High Vol confirmation....as I learnt like 2 hours ago on GU trade)
Immediately price shot up....
Edit*
I think the initial idea was wrong as i had suspected. AU could possibly be in reaccumulation / accum.BO retest
Again, I'm new to this so I could be wrong.
T15 Closed
Another 16 pips in the bag
I cancelled the trade at a resistance that kept pushing price back down before
Not sure if this was a wise idea or if I should have relied on volume .... Guess we'll see.
Edit
..... 1 minute in..... the markets still going ...... BRUH.....Next time, maybe I should analyse the 1 min chart once it reaches a zone....and possibly analyse vol on that.
T16 Closed
Another 15 pips bagged
NS bar @ inverse 50% looks a little scary to me. Plus the open AU trade is draining my energy, so I'd rather focus on one only for now.
T18 SL hit
..... I think I'm legally blind.
It was evident the market was in distribution phase, but since I'm new to all this stuff, I didn't realize accumulation could end so fast / switch to distribution.
Lesson learnt.
Recent price action is far more important than previous.
Stop volumes are possible signs of market change.