1 ES Contract Long Entry
Bottom of my Buffer Zone and Intermediate Low of the DC (Donchian Channel). Order Flow is revealing a potential reversal here. So I'll enter with a Resting order Long 6051.25.
(Below) I got filled on my order. Let's hope that Price doesn't drop below my Buffer Zone.
Price poked through the bottom of the Zone, just barely. Order Flow is indicating Price is being held and currently will not drop below this Zone.
Exit Target 6058.25
Why exit at 6058.25 and not the 6057.50 or the 6066.50 above?
My primary Hypothesis:
A: TOD. Still in Pre-Market. Market is currently is a session equilibrium. - BSL was swept earlier, SSL was not. Short Answer... Inducement. I am anticipating a nice drop in the market, but before it does, the market is going to trap as many Longs and pop their stops, as possible, then drive the market lower. Let's see how it plays out...
Alright! Looking like a solid Hypothesis so far.
Target Hit! -- Out!
1 ES Contract - Long Entry
7.75 Points - 31 Ticks - $387.50
All the best...