Day review: YM 08 Jan 2015

EOD YM 08 Jan 2015

EOD YM 08 Jan 2015

There were a couple of entry setups formed during Asian session (if you even watched this market during that hours), otherwise, YM was grinding up in the RTH morning, patience was required to wait for entry opportunity (well, at least for my type of trading).

Looking at the context in hourly chart on the left, the movement during pre-market/Asian session, was the first leg of buying, and with the tight range followed. I expected another leg up during RTH before considering fading this move. So, I was looking for long all morning.

The retest of uptrend line, and also, the day’s developing Value High (not visible in the EOD chart), which was around 17785 provided a long entry with target around 17825.

A potential short which appeared near the end of RTH was around 17827, an Over-and-Under formed at the break of intraday uptrend line. This setup was ignored due to the time of day. (I don’t hold overnight position).

That’s it for me in this pre NFP Thursday session.

Have a safe trading day.

About Gav

A Father, Husband, Trader, and Blogger. A serious coffee addict. Started trading since 2005, trades Futures and FX.

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