I waited for price to reach the institutional level, and to observe what happens next.
27th - Price fell lower than the IL, so i waited to see if price would reverse back upwards or retest the IL.
1st Move: Price formed a doji candle on the 1H, indicating a strong reversal upwards so i entered with my SL jus underneath the previous bearish candle.
I then wanted to see if price would break the equal high on the 3rd touch of the purple box.
2nd Move: on 28th around 7:25am, i saw that price on the 5m chart, failed to break the equal high and bearish candles were starting to form, after a strong bullish momentum.
3rd Move: I caught another move. Whilst being in the trade I noticed price was failing to push lower than the 118.50 and decided that if price reversed up to 118.75 area, the trend would have been clearly bullish, and decided to enter into a BUY. I set my remaining open sell positions stop profits at 118.75, and i also entered a buy at 118.75.
27th - Price fell lower than the IL, so i waited to see if price would reverse back upwards or retest the IL.
1st Move: Price formed a doji candle on the 1H, indicating a strong reversal upwards so i entered with my SL jus underneath the previous bearish candle.
I then wanted to see if price would break the equal high on the 3rd touch of the purple box.
2nd Move: on 28th around 7:25am, i saw that price on the 5m chart, failed to break the equal high and bearish candles were starting to form, after a strong bullish momentum.
3rd Move: I caught another move. Whilst being in the trade I noticed price was failing to push lower than the 118.50 and decided that if price reversed up to 118.75 area, the trend would have been clearly bullish, and decided to enter into a BUY. I set my remaining open sell positions stop profits at 118.75, and i also entered a buy at 118.75.