Didn't take any trades on Friday either. First week of the year finished flat. Had a couple of opportunities throughout the day but nothing really grabbed me. Had to go to work for 4 so missed any opportunities from 3 onwards. Oil and EU had some nice entries post NFP but wasn't to be.
Oil charts are below, first chart is 15min, showing where the orange fib came from. The highest volume 15min bar from the previous day. Second chart shows the 5min, NFP goes upwards and stops on the high of this bar / 100% of the fib. We get a retrace and ND entry into the 50% of the previous day's fib. Lovely chart!
Oil 15min
Oil 5min
I'm happy with how the first week of the year went, despite taking no trades, eased myself back into it and I feel I read the charts quite competently.
Looking forward to next week and the rest of the year.
Cheers,
Liam
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