Some nice levels today. I was able to get in on a few trades throughout the day. First trade on EU. Very strong bearish order flow drove the market down and about 35 mins of bullish order flow brought the markets back up to the 50 fib where the bears started to take back the reigns. Price starts slowing down and making its pivot around the fib and I took the trade once I saw the bears coming back in. But, I noticed how EU kept rejecting off of the 625 and 600 levels throughout the day, but wasn't able to take any more. When you have limited time to trade you need to make the trades you do get count.
Second trade UJ: Like EU, and I say that for correlation reasons, the 955 level proved strong throughout the majority for the day. I was able to get in on a final rejection of this level. I watched as price came barreling down, started to slow down and bulls started to take back over. Now, price did slightly break the 955 level, but with all of the prior rejections we got from it throughout the day, the expectation was that it would follow back through and reject. But, as stated earlier, I sat back for a bit because I wanted to see the bulls coming back in to defend this role reversal level before taking the trade.
Now, the question I ask myself going into the Asian session is will these levels come back into play? The answer is I don't know, but if they do I expect some reaction around them and I know what I want to see the markets do should they retest and before I take a trade. Price action and order flow can be tricky, I don't want to down play it, but, it's not rocket science. Putting in PA chart time, aside from systems and indicators, will make a worlds of difference in your trading if you're willing to do it and you'll be surprised by what the markets teach you about behavior, price, psychology, etc. all on its own.