Mr. Hyde wrote:LeMercenaire wrote:Mr. Hyde wrote:This is a tough one. Part of me feels like i would have/should have taken this supply zone trade. But did the price action that has played out today cause me not to take it. If i did take it where would i have targeted? 50% retace? Bottom demand zone? Also am i letting my current long bias play in to it? Lets see how it plays out.
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Here's how I'm seeing it on the 5-min...
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My Bias would probably be that we are in a pullback on a Sell move. Hardly convincing in either direction though, tbh.
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Thanks for this post Lem. Sometimes I forget that as traders we don't always know where price is going and that's ok.
What's up with the turncoat resistance and possible support indy? Is it a new supply demand indy or did you just rename it?
Turncoat Resistance/Support (which, as the name suggests) is a level that will likely flip from one form to the other and the other noted levels come via a combo of two indicators that I like to overlay into one.
They are from the old Insanity Industries and someone called Andrew Sumner. I haven't renamed anything.