Stop Outs Trading Inside The Neutral Distribution
Coming into this morning with the Friday high around 59.00 and the London session not able to trade above 58.00. Was looking for downward movement but the US open bounced off the lower volume node of 57.55 with no big follow through. Therefore I looked for a long trade to potentially begin an upward move, running stops and covering trades.
The first trade was long at 57.76 with a stop loss at 57.63 quickly was rejected at the buy gap and stopped with a loss of -13 Ticks. With the rejection of the buy gap, the next trade presented a short from the rejection of the neutral zone at 57.57. After prolonged time to many failures to move lower I called the stop and got out with a -5 Ticks.
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