Oil/commodities were showing signs of strength at the time of my entry. That together with the 2IBs at the base of S2 motivated me to get into the trade. Entry was at $76.55 and stop loss set at $76.25.
Also, it is interesting to note that the 3 bars previous to the 2IBs of my entry are WB and quite vertical, that is why I did not think this motion could be interpreted as a bear flag formation. The high volume of buyers after my entry confirms that the 2IBs are truly a pause in the upward motion.
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