This buy stop didn’t work, though it was impulsive and not planned very well. (I still think the Daily chart is interesting). The two tails in the first chart that look almost like a mini “tweezers bottom” got my attention

Even though when looking back Oil was was selling off – the dollar index was consolidating, USD/CAD moved up just past where the buy order was filled, but then down past a couple 4 hr candle lows.

A rule of not placing trades when I’m preparing to leave was broken, regardless of whether the trade was profitable.

 

Charts below 

 

Daily still looks interesting

 

 

 

 

 

 

 

 

This was a scalp for a couple of pips shown on a 1 minute chart

I’m showing the entry with what could be a hint of the move to come (swinging higher)

We need to monitor price action to determine when to NOT wait for the lower band area to be reached before taking long positions. The second image has a nice entry around the mid band, which is a 20 period moving average. Can you find it?

I’m not showing the hourly chart in this example, however it was the main reference time frame. Really, this can be considered against trend, as it was a short trade.

 

There are 2 scalps here, only amounted to a few pips, but a profit nonetheless.

I’m illustrating here that:

1. There was an “easy target” for 20 additional pips (1st arrow)
2. There was an aggressive target, before a sort of “2nd leg” ended

Of course the aggressive target looks great in hindsight. However, it stays true to what we’ve been doing with potential dynamic (trendline) support and resistance and potential static (horizontal) support and resistance.

That could have been 50 pips. The key with this approach is to be on top of the 30, 15 and 5 minute time frames, and be ready to scale out and set a stop loss and take profit.

The “easy target” of 15-20 pips could have absolutely have been achieved while still in Scalp Mode.