Dan wrote:Thanks for the feedback, I see where i went wrong and should have closed when it went against me. But 1hr had closed higher than the zline area, price retraced to below 12ema and was at the 50% of the 1hr break out candle and couldn't close below it so I went long.
Mighty One, I understand your analysis of my chart and can see the 15min candles becoming smaller which should have alerted me to something being there, obviously it was this 4hr zline.
Trading might be easy for you but it's not for part timers like me buddy, working on it.
You wouldn't want to use the 50% on that 4H candle as the candle is likely to induce profit taking and not short selling.
You might want to try something like this:
Look at the average, notice that it is something in the direction of profit & take note of the wicks in the direction of loss; although you do not need wick-dolls, it is a very positive indication that you are moving in the right direction.