HTF Confluence :
-Price bouncing from a Weekly Key level Resistance to trade lower.
-Daily Bearish Order Block
-But price still retrace and there's a possible reversal because price still bouncing in a Daily Resistance Level to trade higher.
-So this is not a high probability setup, so I rather trade scalp today. REDUCE YOUR LOT SIZE THIS IS NOT A HIGH PROB TRADE
-USD 10 Y T-NOTE, are showing signs of a retracement to trade higher in a short term swing.
Entry Time Frame
-OTE pattern
-15m Bearish Order Block
-ICT Power of 3, Asian range
-London Kill Zone
-Price bouncing from a Weekly Key level Resistance to trade lower.
-Daily Bearish Order Block
-But price still retrace and there's a possible reversal because price still bouncing in a Daily Resistance Level to trade higher.
-So this is not a high probability setup, so I rather trade scalp today. REDUCE YOUR LOT SIZE THIS IS NOT A HIGH PROB TRADE
-USD 10 Y T-NOTE, are showing signs of a retracement to trade higher in a short term swing.
Entry Time Frame
-OTE pattern
-15m Bearish Order Block
-ICT Power of 3, Asian range
-London Kill Zone
Trade active:
Trade actived, let's wait for a confirmation reversal, Shooting Star pattern & stong magnitude move pushing down
Comment:
Price is now moving in our favour, move the SL 50% when we reach 10 pips (REDUCE RISK). We expect price to break the Asian Range high before New York Opening (5am - 7 am). If it doesn't break the asian range , consider collapsing the trade or find another confluence to re-entry to the bullish side.
Trade closed: stop reached:
The price's moved to my favour, but it didn't break the asian range. So my HTF view was correct. This trade was not a High Probability Setup. Notice that I said in the HTF Confluence the price is bouncing from a Daily Resistance Level. You can see in the charts the blue horizontal line (1D KLV : 1.16220). BUT I pick the wrong Daily Bias.
So I said yesterday to collapse the trade or, switch to the bullish side before the New York Opening. And the price did happened reverse to the bullish side, taken liquidity from the old high above, and then consolidating in a larger range.
unfotunately, I didn't keep my eye on the chart yesterday, cus I have something to do. And then I didn't manage catch the moveup :') what a lyf. But I've warned you guys so yea I've made a mistake still a profitable mistake if I keep my eye on it. Luckily I've managed to reduce my Stop Loss to 50%.
THE MISTAKES :
-Wrong bias
-Wrong Order Block (15m-OB) that I used for the entry, It happened to be only a retail supply & demmand area.
FOR THE NEXT TIME :
-becareful if I trade in a possible reversal area, in this case the Daily S&R Key Level.
-Watch your SIx, Anticipate the opposite movement. In this case, It's turns out to be a bullish day, with a consolidating distribution.
-Well if you Analyse the yesterday trade, you can use the Asian Range as Entry Area and if your draw a ICT OTE fibb at the bullish price swing, the move up from the asian range (1.16233 ; 1.16447) notice that the price retrace back to the OTE area.
That's all folks have a good one :)
So I said yesterday to collapse the trade or, switch to the bullish side before the New York Opening. And the price did happened reverse to the bullish side, taken liquidity from the old high above, and then consolidating in a larger range.
unfotunately, I didn't keep my eye on the chart yesterday, cus I have something to do. And then I didn't manage catch the moveup :') what a lyf. But I've warned you guys so yea I've made a mistake still a profitable mistake if I keep my eye on it. Luckily I've managed to reduce my Stop Loss to 50%.
THE MISTAKES :
-Wrong bias
-Wrong Order Block (15m-OB) that I used for the entry, It happened to be only a retail supply & demmand area.
FOR THE NEXT TIME :
-becareful if I trade in a possible reversal area, in this case the Daily S&R Key Level.
-Watch your SIx, Anticipate the opposite movement. In this case, It's turns out to be a bullish day, with a consolidating distribution.
-Well if you Analyse the yesterday trade, you can use the Asian Range as Entry Area and if your draw a ICT OTE fibb at the bullish price swing, the move up from the asian range (1.16233 ; 1.16447) notice that the price retrace back to the OTE area.
That's all folks have a good one :)