-The obvious SquareArrow>>>Blue Sema>>>Pink Sema
-Price is below Vwap, Daily Open, 4H Open, EMA's
-Your sub windows align
-4 Mini Dots
What I don't like:
-The Blue Arrow
-Price has not crossed the ADR Sell Point. I would wait for how it reacts to that area
-A new 4H open line is not far off and looks like it will be near ADR Sell Point. Again, I would wait for reaction
Looking at the information in front of us, IF I took a sell trade there, I would have a quick trigger to get out of that stressful trade.
To me the #1 rule is this, if I can't make sense of it, I don't trade it. Whether I feel like "I'm about to miss out if I don't take it", or not. If it doesn't create the picture I need, I pass.
This is a tough part of this, or any system. There is a legitimate fear of buying at the top and losing or sitting on your hands and missing out. If that price goes down, it will go down in steps. In a good trend, you will get another shot at entry. Especially if it is indeed a reversal. So, we wait.
Now, what if you had looked at the M5 chart?
The M5 chart shows a Blue Dot 2nd Dot buy entry set-up in the works. I believe this would have settled the question for you without any hand wringing.
