Was this a good setup that didn’t work, or is there something I am missing when I take these trades? Should they be used only in line with the current Swing Low-High sequence?

What factors were for and against this trade?

  • For: it was the 169 on the m1 and 3
  • For: it was outside the M3 Bollis when it hit
  • Against: there was an active H4 TL straight above it
  • Against: lots of orders waiting below at yesterday’s close.
Market reverses off CBOL and the moves swiftly into the 169 on the M1, which is also the 169 on the M3. The failed sell bar made me think that the trade would work, bit the TL was straight above it and that is where the trade failed.
It always look crazy to trade against big bars the one here going into the 169, but it’s a profitable strategy – as seen by an equally large bar going into the Close.
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