I wasn't planning to trade today because there is just too much to do before Christmas, but I wanted to watch the open in Europe (every minute screentime I can grab is more experience).
My first trade was a bit aggressive when price moved above the previous candle open and the sma20 was green and sloping upwards.
I knew it was trading into supply and when price reacted I closed the trade just shy of 1.5R.
Then: I could see there were some batman ears on the m1, we were in a supply zone and price printed an inside bar so I opened a short.
An ideal setup for a reversal above Asia.
There were a couple of things wrong with this idea:
- Price already closed above the supply so it wasn't valid anymore
- I was watching the m1 but I was still trading Frankfurt and Frankfurt is the m5 domain
- I was late in the trade so my odds were already diminished.
Luckily I realized my mistake relatively fast so I could get out with only a small scratch.
After that we printed and inside bar on the deadhorse so I hopped on, price came back giving me a chance to open a second position because my first one was too small. Closed the first part after 7 consecutive up candles and waited for the rest what would happen at London open. When price gapped down a bit and wasn't making an effort to move back up I closed the trade.
I wanted to see what would happen but my wife interfered because she wants to do the last Christmas groceries.
The reversal still came but I could be happy with my +3.5%.
- 221223 - EURUSDm5.jpg (233.17 KiB) Viewed 930 times
