bbmac
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Re-entry to 30min downtrend??
Pullback in 5/30min downtrend from 6240 extends to 6296, (5min fib channels ascending into price at the bottom,...good confirming indicator...
5min hidden-divergence based re-entry set-up develops (timed as a 1min Reversal set-up) but @ a HH after 3 x HL on this t/f, although @ still a LH on 30min into whose downtrend the set-up indicates a potential re-entry after the pullback..all in all though not optimum pa conditions for a re-entry for the reasons mentioned..
Have therefore rejected the set-up @ the potential sbr = prev 1hr swing lo=prev supp=potential sbr..
Right decison,? well, whether price goes down from here or not, on the t/f's I am trading and for the reasons mentioned, yes it was...you can only trade what you see on the t/f's of interest to you....
G/L
Pullback in 5/30min downtrend from 6240 extends to 6296, (5min fib channels ascending into price at the bottom,...good confirming indicator...
5min hidden-divergence based re-entry set-up develops (timed as a 1min Reversal set-up) but @ a HH after 3 x HL on this t/f, although @ still a LH on 30min into whose downtrend the set-up indicates a potential re-entry after the pullback..all in all though not optimum pa conditions for a re-entry for the reasons mentioned..
Have therefore rejected the set-up @ the potential sbr = prev 1hr swing lo=prev supp=potential sbr..
Right decison,? well, whether price goes down from here or not, on the t/f's I am trading and for the reasons mentioned, yes it was...you can only trade what you see on the t/f's of interest to you....
G/L