01132021 Gold Nugget

13 Jan 01132021 Gold Nugget

#fin­twit #order­flow #day­trad­ing

For a late-sus­tained auc­tion entry direct into a sup­ply or demand zone: I need faster paced price action test­ing TPO struc­ture low (after a sus­tained auc­tion) before clos­ing as a Base. Due to a high­er time frame sup­ply this was not fea­si­ble today and the rever­sal was ‘con­firmed’ through a weak failed auction. 

Edit: Lat­er on the ini­tial the­sis of a val­ue rejec­tion up and con­tin­u­a­tion was proven by a test of IB edge high (M15 Bull Engulf) and con­se­quent move higher.

Bonus les­son: Our job is to sit here and find align­ment with the mar­ket. When an oppor­tu­ni­ty aris­es that fits our risk pro­file (based on a sta­tis­ti­cal­ly proven set­up) we exe­cute a trade. Noth­ing more. Noth­ing less.

For more info check out my Dai­ly Report Card: