Again, having a plan and sticking to it with patience helps with consistency. As I mentioned in previous post, I was staying out until either one of the zones were in play above or below. The below came today and I had mentioned a print below we will go visit $56.
We opened right at the 58.39 “uh oh” line I call it. Watched price action (had two 5 minute candles close below, then went to 15 minute to see candle structure overall). And then the game plan played out and price went straight on down to $56, printing a low of 55.93. This is why I wait for set ups; to put the odds more in your favor.
I’ll have to re-evaluate the chart tonight but in the meantime, as we sold right into a demand zone, I think we could see a potential relief bounce.
If anyone followed along, hope it worked out for you!
We opened right at the 58.39 “uh oh” line I call it. Watched price action (had two 5 minute candles close below, then went to 15 minute to see candle structure overall). And then the game plan played out and price went straight on down to $56, printing a low of 55.93. This is why I wait for set ups; to put the odds more in your favor.
I’ll have to re-evaluate the chart tonight but in the meantime, as we sold right into a demand zone, I think we could see a potential relief bounce.
If anyone followed along, hope it worked out for you!