Dan wrote:AUS/USD really gave me a hard time last week so thought i'd try a jpy pair.
I notice that zline's are respected more? Got out shortly after this trade.
I was going to respond earlier but K-lik wouldn't load.
With small charts, I would wait for price to spike with a significantly larger range than that found in the recent price history:
If you condense your chart then you will see a long uptrend, recently broken, with a double top to trap short sellers.
When you believe that traders are likely to be trapped then it is a good idea to both trade a little larger and wait a bit longer than you normally would.
On 5 minute and smaller charts, you can almost always afford to wait for a candle to close and liquidate at the highest price.
There is only one highest high or lowest low so use that to your advantage when closing orders.