Trade I took today. Here’s why
1. 4 hour pinbar support
2. Weekly swing low support
3. Daily pivot point confluence.
4. 15 OR bottom support
I noticed decreasing momentum from an early sell followed by anomaly volume on a 5 minute candle. The premarket selloff gave me added confidence a retrace could be near
Trade I took today. 3.6 Risk to Reward
Here’s why.
1. 30 min pinbar formed in premarket
2. Pinbar formed at untested area of support from Tuesday. (Demand Zone)
3. Volume confirmation on pin bar candle
I used Fibonacci tool to target the 0.618 level as my entry. Stop loss below pinbar + premarket low confluence.
Here is the trade I took today and here is why.
1. Premarket Gap Close
2. Previous Day High Reject
3. PS60 BB resistance
The three pictures show my entry. My exit (light blue pivot point) and what happened after.
Little upset I don’t hold a few but green is green.