GSB downtrend, RSI & MACD met my best setup.
Updated
Condition:
1. If price gaps up high at pre-market or market open, I will cancel the orders and wait for a gap up pullback on 1min/5min timeframe with good R:R ratio to get in again.
2. If my entry is triggered with weakness or potential trapped, I will watch the move for the next 30min and get out of the trade if strong selling occurs. Hold the S1 position if weak selling follows through.
3. If no sign of strength and weakness on both sides, my order will remain.
4. If further weak selling is coming, I will find a better LWP for entry.
5. If strong selling follows, orders will be cancelled and reassessment is needed.
1. If price gaps up high at pre-market or market open, I will cancel the orders and wait for a gap up pullback on 1min/5min timeframe with good R:R ratio to get in again.
2. If my entry is triggered with weakness or potential trapped, I will watch the move for the next 30min and get out of the trade if strong selling occurs. Hold the S1 position if weak selling follows through.
3. If no sign of strength and weakness on both sides, my order will remain.
4. If further weak selling is coming, I will find a better LWP for entry.
5. If strong selling follows, orders will be cancelled and reassessment is needed.
Trade active
Based on condition 2, my entry seems like a trap but buying are supported by volume spike. Adjusted stop loss to 3.48 below the strong bull bar.
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