9/14

YM +51, +9 = +60 total

Came into today's PA fairly confused:

We had a full retest of the last LH however the leg that retested that high had less momentum than the leg prior.

Overall the expectation was still for a NSL but that expectation is weakened with the full retest.

IME, the majority of the time you are better off waiting for a pullback to go ahead and fade the expectation.  So in this case, I'd be looking for a pullback to get long but with the weakened momentum and the labored price action (as evidenced by the multiple swings to get to the retest) I just felt it best to SOH until price made more sense to me.

Price ended up making a 5w pullback into a demand zone which yielded a great move up:

Usually I am good about drawing relevant supply / demand zones each morning, however I clearly was not on my game as I left off the demand zone which rocketed price higher.

As I suspected, we did not create that NSL and instead we went on to create a NSH.  This is where I hit my first trade of the day.  Notes on chart:

Ultimately we completed a 1:1:

And so I was now on the lookout for a deep pullback so I could get long for another leg higher.

I had a demand box outlined and wanted to see price hit it to start looking long. There was fib confluence in there as well structure and the daily open. Price didn't hit it so I stayed out. You can see later in the session that price did come in to touch that confluence zone and while price made a small bounce, there was no sustained move upwards:

I was then debating this long where price made a nsh on the short term, so I thought that price was realigning with the long term and we could get a pullback to get long for a NSH on the long term. We got the pullback into demand but by this time it was just after 11:30 and I didn't think it was necessary to take on the risk. It would have been a profitable trade however the expectation of price making a NSH on the long term failed:

Note where we failed:

I sat most of the afternoon out but did come back and make a small, final trade.  Notes on chart: