Promised corrected entries from NOV 7th
As promised here are what my correct entries should have been from NOV 7th trades I took a lesson my demo account.
First and foremost my bias was bullish that day from looking at the higher time frame we had liquidity sitting right above we were aiming for but what made me change my mind at the moment was a rejection of the Daily Vol imbalance marked at 8:09 which was not in my trading plan time frame of waiting for the open at 9:30.
for a picture of my three losing entries please refer to previous post under commentary.
Here is what I should have waited for instead.
waited for market to open at 9:30 NY local time and wait for the orders to come in and take out liquidity below and then form a Break Of Structure and BISI to the upside with the 9:40 candle while also REJECTING THE DAILY VOLUME IMBALANCE ON THE 5 MIN TF which was the key in this entry. Soon after entry candle was formed when it tapped in the the bullish order block, and a second entry as marked below.
Target to reach for with the confluence of being bullish on the higher time frame was the nearest liq high of oct 13th and paired with the oct 12th gap as also marked below.
THE KEY IS TO USE PROPER RISK MANAGEMENT AND STOPS TO CONSERVE CAPITAL AND USE THE HIGHER TIME FRAME FOR A TRUE DIRECTION IN PRICE, AND WAIT FOR AFTER 9:30 MOVES OR 10-11 SILVER BULLET FORMATION AND OR MODEL 2022.
First and foremost my bias was bullish that day from looking at the higher time frame we had liquidity sitting right above we were aiming for but what made me change my mind at the moment was a rejection of the Daily Vol imbalance marked at 8:09 which was not in my trading plan time frame of waiting for the open at 9:30.
for a picture of my three losing entries please refer to previous post under commentary.
Here is what I should have waited for instead.
waited for market to open at 9:30 NY local time and wait for the orders to come in and take out liquidity below and then form a Break Of Structure and BISI to the upside with the 9:40 candle while also REJECTING THE DAILY VOLUME IMBALANCE ON THE 5 MIN TF which was the key in this entry. Soon after entry candle was formed when it tapped in the the bullish order block, and a second entry as marked below.
Target to reach for with the confluence of being bullish on the higher time frame was the nearest liq high of oct 13th and paired with the oct 12th gap as also marked below.
THE KEY IS TO USE PROPER RISK MANAGEMENT AND STOPS TO CONSERVE CAPITAL AND USE THE HIGHER TIME FRAME FOR A TRUE DIRECTION IN PRICE, AND WAIT FOR AFTER 9:30 MOVES OR 10-11 SILVER BULLET FORMATION AND OR MODEL 2022.
Comment:
for a safer entry you could have waited for a stronger BOS "break of structure" to form like the entry 2 to form and consider that as a breaker entry as well.