The action of the previous day was a warning for a sell-off. But when you know this, what do you look for? You look for a low-risk entry to go short.
Usually, a market profile gives you some ideas of where this can happen. You watch the price action around previous levels, like the POC or the value area of previous sessions.
Today was a beautiful example of this.
First, you had the Market Profile chart letting you know where the POC is.
Then you watch the price action on the range chart. You see it rolling over.
You enter short and look for a target. My target was far away, so I took my exit as soon as strength was coming in.
And then you had an extreme play to the upside. The first was a small loss, but the second attempt was also a nice trade.
“I loved it when a plan comes together.” would Hannibal say from the A-Team.
Wish you stress-free trading.
Add comment
Comments