newark18 wrote:I entered at the black arrow and got stopped out before it went in my direction. My stop was 50 pips.
Price warned you for 12 hours that it might make that correction, can you see it?
I don't know why you are still drawing multiple S&R lines as if they are going to help you...
S&R: a line which price may cross but not close beyond.
Price does not stop on a S&R or FIBO line get that babypip BS out of your head.
Price can move hundreds of pips past a monthly S&R line and close above it. Is monthly S&R strong S&R? Yes, monthly S&R is strong S&R but it isn't much help if you do not have the cushion of profit to withstand the monthly Wick Doll.
That is why you trade off a daily+ extreme and focus on the only S&R that matters, your average price.
Later on you may be blessed with such good fortune as to join the S&R game of the big picture.