Bias Analysis: 1D Minor Swing at EPD with 4H Selling off in alignment with the daily bearish bias. A consolidation formed in alignment with the 1H range and after pulling back into a 4H 1-sided FVG, which confluent swept buy side liquidity, the trade parameters were met for a short position.
Grade: High Probability
What I did well or could've done better:
- I waited for extra confirmation as the 1M Market Structure Shift did not have the conviction I was looking for, perhaps there was nothing wrong with the MSS and I was projecting my fear onto the chart. I fortunately did not miss the trade but on a different day I would have and would be kicking myself now. I did sacrifice profit by waiting and opting for a wider stop.
If the trade meets the plan, execute! Understand the variation of concepts you trade and know that the market won't always be picture perfect.
Grade: High Probability
What I did well or could've done better:
- I waited for extra confirmation as the 1M Market Structure Shift did not have the conviction I was looking for, perhaps there was nothing wrong with the MSS and I was projecting my fear onto the chart. I fortunately did not miss the trade but on a different day I would have and would be kicking myself now. I did sacrifice profit by waiting and opting for a wider stop.
If the trade meets the plan, execute! Understand the variation of concepts you trade and know that the market won't always be picture perfect.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.
Disclaimer
The information and publications are not meant to be, and do not constitute, financial, investment, trading, or other types of advice or recommendations supplied or endorsed by TradingView. Read more in the Terms of Use.