Clean trade that we are likely to push down from. Early exit line in the sand is quite pronounced. Will see how it goes.
Comment:
Pullback in the works.
Trade active:
In.
Comment:
Ideally we get a good 15M close in 4 minutes.
Comment:
We closed below line in the sand. So still holding.
Comment:
Now 4M needs to follow suit.
Comment:
We're likely to close early at this 4M close.
Comment:
Giving it a few more minutes, although early close is extremely likely at this point.
Comment:
Okay close, hopefully it will transfer into 15M good closure.
Comment:
We closed back below line in the sand. Now 15M needs to confirm that.
Comment:
Ideally we get a 1M move as follows (green brush). We need a 1M change of market structure and fast EMAs cross to better confirm the overall move to the downside. Right now it's a bit tight.
Comment:
15M seems to be forming a good candle.
Comment:
On 1M we are getting an aforementioned break and a cross. Now hopefully it follows.
Comment:
Line in the sand changed. Break below it = moving stop.
Comment:
Plausible 15M close.
Comment:
At the same time pretty bad 4M close. At this point if we get a high-volume close against us - we'll exit early.
Comment:
Getting that movement in our favor.
Comment:
Very good 4M close. Now we want it to continue.
Comment:
Not good price action after such a good candle, but that is likely due to volume as it haven't yet picked up. Holding.
Comment:
If we close above this zone - we'll be out I think regardless of volume. Not ideal price action, unfortunately.
Trade closed manually:
Out. -0.48
Lightwork Trading