12162020 Gold Nugget

#fin­twit #order­flow #day­trad­ing

When there is a medium/higher time frame nar­ra­tive for a con­tin­u­a­tion to a move, we can see price bounc­ing back against the intend­ed direc­tion as well as antic­i­pat­ing a low/medium ini­tia­tive activ­i­ty day extend­ing from the Ini­tial Bal­ance. Even cre­at­ing Price Action for­ma­tions against the nar­ra­tive (ie. Bear Engulf­in­gs in a Bull­ish direc­tion­al nar­ra­tive). Look for sub­tle clues of con­fir­ma­tion of your direc­tion­al bias (with­out mar­ry­ing it). For exam­ple. Today we had weak price pat­terns against the nar­ra­tive in the form of a bear engulf with very long buy­ing wick as well as a small ‘inde­ci­sive’ bear engulf fail­ing the auc­tion. This is where OODA loops come in handy cycling through H1 and M15 for fur­ther con­fir­ma­tion (or dis­prov­ing) the nar­ra­tive. As usu­al, high­er time frames prevail. 

For more info check out my Dai­ly Report Card:

How did I trade today? 12162020

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