This was a great setup example in the /ES EMini SP500. The market offered up a great drive down breaking previous structure and appearing to go back in the direction of the original trend.
From here, the sentiment is great, but the location is bad. This was a breakout pullback to previous structure. I had to wait to see sellers hold price down right at the end of the candle. A few seconds before the close, the candle slammed down closing low on itself.
Typically, the candle close lows are defended after a drop lower so I had to be sure to get the right entry to make sure we had a win. Great trade setup and great example of how important location can be for scalpers.
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