Classic Tuesday #2 + Core Inflation Rate YoY Thu
Classic Tuesday pattern: In a bullish scenario, Tuesday forms the low of the week, with Thursday marking the high. In a bearish scenario, Tuesday sets the high of the week, with Thursday creating the low. The best trades are typically made between Tuesday and Wednesday. If the setup doesn't play out on Tuesday, it often unfolds on Wednesday.
I entered the trade before 2:30 PM NY time because I needed to get some sleep. I based the trade on a 15-minute order block (OB) with my stop loss set at the Asian session low
I decided to take profits just below the previous high. I had expected the price to push higher during Thursday’s London Open, but I didn’t want to be too greedy, so I took profits on Wednesday after the London Close.
Thursday Core Inflation Rate YoY: A sharp 15-minute move of 134 pips, typically neutral, designed to trap traders on both sides.
I entered the trade before 2:30 PM NY time because I needed to get some sleep. I based the trade on a 15-minute order block (OB) with my stop loss set at the Asian session low
I decided to take profits just below the previous high. I had expected the price to push higher during Thursday’s London Open, but I didn’t want to be too greedy, so I took profits on Wednesday after the London Close.
Thursday Core Inflation Rate YoY: A sharp 15-minute move of 134 pips, typically neutral, designed to trap traders on both sides.
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