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Things to note: when the CL moves it moves enough to give the patient trader the luxury to wait for confirmation before taking a trade even though the theoretical risk is increased.
Why C? which is a long trade simply because this area was a valid zone of demand in my book. If you look on the left side of the chart you'll see price tested the area below the value channel and subsequently made a few higher highs above the channel. This can only occur if there were strong demand there. On a first retest of this area, i expect to find demand still present to justify an entry if price action cooperates or confirms the premise which it did.
Good excess was left into support @97 at yesterday's close. Balancing nicely today so far at previous POC, anticipating an inside day to print. With this backdrop, buying today around val may be a decent plan I suppose. Will add on an inside day breakout trigger to the upside, or stop on trigger to the downside.
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
ETH stands for extended trading hours right? whats the advantage to using ETH vs RTH when making trade decisions? doesn't most (>80%) of the volume occur in the RTH session?
but we still have to consider and take into account the ON session developing value and extremes
" I will follow my rules, I will take my stops, I will be disciplined and i will work with the market....NOT AGAINST IT! Professional mind control is the key"
