Plan: H4 trend was down so labeled H4 supply level just overhead. When price reached to this level, drilled down to M30 and waited for a LOPH candle setup which I entered short on. Trailed stop on each bear trend bar down. Aiming to short into H4 demand but when price went static on a section of M30 demand for 2 bars and printed a hammer I exited manually for a R+1 discretionary exit.
NB: additional reason for exit was due to Paul and I talking about scraping a trade on a time stop if it fails to do what it was meant to, because when intraday we're trading momentum; No movement = no momentum. Part of me felt that no momentum/2.5 bars of no movement at a M30 level of demand showed lack of momentum but not sure I was correct using this method on an exit rather than entry.
... Looks like I might have been!
Trade
NB: additional reason for exit was due to Paul and I talking about scraping a trade on a time stop if it fails to do what it was meant to, because when intraday we're trading momentum; No movement = no momentum. Part of me felt that no momentum/2.5 bars of no movement at a M30 level of demand showed lack of momentum but not sure I was correct using this method on an exit rather than entry.
... Looks like I might have been!
Trade
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