First trade was in purpose to test an entry method... second trade was the good one, had around 9 pips DD and got to my target with +21. Didn't close it as PA was respecting that support area. My trade didn't end up in the wick of the candle. Spread pushed my entry to the top of it.
Just need more consistency and avoid whipsaws like today's morning in that GBPUSD short trend.
cfabian wrote:Thanks for your insight espip. Thanks to you as well dragon
Looking to long this once we have momo to the upside.es/pip wrote:cfabian wrote:Very nice dragon... I had the same trade, but going the other way LOL. Here's what I was seeing:
H1, price had long momentum, then short momo started to build and saw the area you marked on your H1 chart. As long momo candle was bigger and saw price action bouncing up, thought would be a long entry point. Then looked for that entry point on lower TF.
What made you believe price would go down even further? My H4 candle at that time showed no momo (it does now at the close).dragon33 wrote:The first trade is not out the book it is just a trade away from resistance
Here you can see the reentry based on the H1 chart.
Here you can see the priceaction on the M15
once that momo short comes into that long momo and then cant go up its a short trade------ especially with the double top on the h1 right behind it
i can see what you were looking at----
but by the time you got long it was right back into the mz of the short momo bar-- if i was going to try it i would want it as low as poss. or pass on it
the double top ( with an increase of momo down off of it) being the main factor for me on that one though
just saw that q was directed to Dragon
thats just what i was thinking through that