I am not good at this by any stretch but here is a trade I should have pulled off but I was way to unsure.
Based on 15 min charts:
First 4 bars contain unusual volume with wide spreads. The 4th bars closes in the lower half of the bar.
The 5th, 6th, & 7th bars all have lower volume associated with them. Here I was unsure if 7th bar would be considered a no demand bar. However since the price retraced on lower volume, I was scared to pull the trigger.
The 8th bars looked promising as the volume was almost equal or greater than the previous 2 bars. For me this was confirmation that the bottom was set. I would like to have bought at the open of the 9th bar.
13, 14 & 15th bars were small pullbacks on lower trending volume. This would have been a nice dummy style entry. The only concern might have been the Opening range resistance.
Where would you guys have entered and why?
Thanks,
LP
Flatwallet