Tuesday begins. Price did stall around the area as expected, with little/no news to driven price. There was a retrace down, but not much with 20 pips. Overall bias is now currently on longs.
TLPE (time lag price efficient) 123 pattern appears. These patterns, if they breakout, are the most dangerous if you are on the wrong side.
1-it will take a long time (time lag) or maybe even never to retrace to breakeven
2-difficult to have a significant retrace after price rosed steadily (price efficient).
FYI noticed the previous 123 yesterday is PLTE (price lag time efficient). This means at least one still can scale in and out of price, but all within and respecting a short period of time. If anything, I like PLTE better than TLPE or SYNC states. SYNC is when both time and price are equally optimal. But TLPE I must totally respect it when it happens or else I get wiped out.
Upper zone nicked. Lets see what happens next.
Settles into a range again, but frankly, I would favor the upside more.
Slow morning so far but thats fine. Waiting for Europe/London markets to open.
Price now driven down and lower zone nicked.
Quite a whippy day but able to stay calm and react accordingly.
Range days like that isn’t necessarily a bad thing. I find it tends to be more forgiving.
Upside break again. A much stronger one and driven by news.
Came back home with a nice long profit locked and taken. Look at how price stalled at 180-200 ext, 280-300 ext and 380-400 ext. Now price coming back to a large zone and testing it. This zone can be the key for Wednesday trading day. Its a large zone, about 60-70 pips, but plenty of opportunity to scale in and out for range trading.