The market was
The three trading day old gap was also at confluence with S2 and Fibs, increasing the probability of a successful outcome.
The level setup again later in the day and could be traded again – this time for +50 and still running. The reasons why this trade setup is valid despite a higher high and the level already having been hit (these factors would cancel a counter long- and short- 3Min Bolli setup at a level):
- The new high is just a retest of the Nov 13 low and big impulse bar sees no follow-through.
- Price is at the 3 Std. deviation band
- The trade is in line with both the long- and short- term trends.