It's been 16 hours since the market has opened and the price hasn't even break above or below yet, still in consolidation phase/sideways pushing up to create a wick above and then dropping down but still not being able to cross and break support, though it did cross the 2,900.00 support once but did not manage to break the support. So right now the buying trend is still strong, as price was not able to break support, though price may drop again to attract buyers and then crash further to sweep stop losses before coming back up. So the best position entry now is to wait for the price to drop and sweep stop losses before entering a buy position because the best place to buy is where most traders get their stop losses sweep.
See the "Gann Box" I created in charts? That's the consolidation zone, as long as it hasn't crossed and successfully breaks either the highs and lows, it is still consolidating. Which means the only way to make money now is to accumulate pips win by scalping, if price drops down without crossing the support and low of the H4, enter a buy position and close at the middle of the gann box. Then sell if the price pushes up but can't cross the H4 resistance and highs, and then close the position at the middle of the gann box in case the price push up again.
Never FOMO no matter the situation, it isn't worth it when the price suddenly pullback leaving you at the wick's end. And never fear holding a position that you deem is the best possible position you can get. Conquering both of the flaws would make you a master at trading as true trading isn't all about the skill and knowledge as anyone can acquire it. The most important factor in trading is your mental fortitude because you can only hold a good position and cut loss of a losing trade only if you're mentally strong because most people tend to close winning positions first for fear of price coming back and tends to hold bad position wishing the price would come back for them to close it. This kinda attitude is what I call a biased attitude, they don't play according to the true price actions and tend to succumb to their emotions and enter unreasonable trades. It's literally the best way to lose money, and it's totally pointless trading like this because there's no lesson in there as you're trading with the wrong mindset from the start. That's all I can say because it's all I could think of right now, will be back to add in more opinion later.
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