Good morning, Bear with me, I'm just about to rewatch video 2 today if my sick kid lets me, a morning of puke and tears, yay!! I didn't expect that big a move north, so we are where we are, with a NSH. But I'm not sure what we should expect from here. {image}
My take with a couple of Fibs and an expansion Fib to illustrate the 127.2!
As per the PA shown on the M5 chart I see the following:
1. Longer term OF is up.
2. Short term OF is perhaps down
3. Looking for price to land in the support area highlighted by dark orange colored band.
4. My bias at this stage is to the upside so I'm looking for longs.
5. I'm waiting for price to drop into the orange zone and then I'll look to long it but its possible that I may have already missed my chance
6. Therefore, I will wait patiently and look for an ideal entry that affords me a good risk to reward ratio.
Build up a picture by analyzing what appears to be relevant.
Try to visualize where price might be headed, look for confluence (if it exists) and other trading factors.
If nothing makes sense, leave it for awhile and then return 15 to 30 minutes later and check to see if it makes sense this time.
If not choose another pair to trade.
Masterrmind...........
Master your Mind then Master your Trades
I also missed my Profit target by 3 pips so I manually exited. It wasn't worth 41 pips for another 10 Even with the current Bearish strength, I am still expecting a Long term NSH or at least a retest. {image}
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