This is what happened to me this morning. I saw an opportunity to enter short at a ZL on EURJPY. Set a limit order at it and price surpassed it baddly. I closed the possition at -15 (it was at -21 at some point). Minutes later the sucker came back down and got to my target line.
es/pip, as told you yesterday this is what happens to me quite often. I wonder what you guys do in order to avoid this?
BTW, those small arrows are the corresponding to the indicator that places arrows on entry and exit. If you guys are interested let me know.
i rarely just lob a full order out at a zline--- if i do it is a 1/4 or 1/3 position so if the market smokes my line and just rips thru it and i get stopped before i get a chance to get out at a better price-----then lets say my stop was 2o pips and i had a 1/4 position on i would have only lost 5 pips vrs a full stop at 20 on my lot size-------- had the line held and started going my way i would add into it
the zlines, M areas do not always hold----hence the body in direction of profit and wick in the direction of loss.