The original level was 11444. It’s a PA level and Fut close, but 20pts above I have a very strong level – cash market weekly 200 MA
But in fact, RES 1 was not well positioned because it was too close to a strong, strong level – but even in those conditions, a more careful look at PA and an adjustment of the level in response to that would have kept me out of trouble.
On reflection, this post seems to be an exercise in curve-fitting and confirmation bias, a better approach to this PA goes something like this:
THOUGHT PROCESS: “OK we have levels 10pts apart and Fut close fill is often a good trade, so I need to be on my toes and keep my focus on the highest probability level which is the weekly 200 MA – this means do not take anything other than very clear, very definite setups at the levels below.”
