There were three levels that formed the confluence here, so SUP 1 really needed to be a zone between 12100 to 12093 rather than a line. The low was
- CBOS at 12100
- S1 at 12093
- BNR at 12100
I did take the trade and it did make me a nice 1R but it was very close to being stopped, so how do I handle this situation? Perhaps in this case my aim should be to get in as close to the lower level as possible.
TRADE PLAN: when I have RES or SUP zones rather than lines, trades must only be taken within the zone and never before it – that is just asking for a stopout.
This is how the PA looked on the 3Min