spa wrote:what was wrong with this trade.. short EJ of the 5 min .. was it the fact that the previous 4h and 1h bullish momo was larger and price wicked those respective MZ and jumped higher trumps the more recent bearish momo?
If I'm not mistaken you have a bollinger band on M5. It is likely that once price has moved from one extreme through the middle line (= average) it continues to move to the other extreme. Based on the fact that the price first tested the middle and then went through it, going long had a higher probability, especially if you combine that with the 66-ish % probability that there will be a 2nd same color bar (i.e. green after green).
If you put EJ on H1, you can see that price bounced off exactly at the middle.