Today I placed a short trade about 19 minutes after the open for a gain of +16 ticks.
Position: Short
Entry: 4397.75
Exit: 4393.75
Result: +16 Ticks
The Setup
5 Minute
There was a nice rally at the open and I had resistance put in at 4403.50.
30 Second
Price only made a new high on the second push by 6 ticks. Order flow showed signs of weakening.
The Idea
With such a big push-up, I suspected price would retrace off resistance before trying to get higher.
I watched the order flow and timed my entry after buyers were done trying to push it up further.
The Lesson
This was a well-timed trade mainly watching order flow and signs of price easing after the big push-up.
Links
For data, I use Earn 2 Trades platform, which also gives you the opportunity to become a funded trader through their combine.
I use Optimus Futures for charting and order entry.
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