Trade 1: +18, +31 (50% Fibs 8/19 MRAL to 8/20 HIGH and Confluence with 8/19 Close Mid to Lower Keltner)
Trade 2: +08, +14 (38% Fibs Entire Day)
Trade 3: +11, +21 (First Pullback to MAs)
TOTALS: +103 / +$515
LESSONS LEARNED:
- Continue to associate Supply/Demand (Resistance/Support) with Volume Spikes on ERVBs (the Low and/or High of the ERVB). Trade with the Institutions... the Institutions enter the Market at areas of Heavy Volume/Volume Spikes. The Market typically respects the Highs/Lows of ERVBs on Heavy Volume due to Institutional interest (place your stops 1/2 ATR below/above these prices).
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