Not really getting the idea around this comment:
"i was watching that long as well but the way that h1 bar formed into it created overhead resistance which decreased the room it had to move-- so i passed on the long "
How would you have considered an appropriate h1 candle for the possible long?
BTW, this is how that h4 candle showed with my broker, which was a significant increase of momo. Just to be aware of.es/pip wrote:cfabian wrote:I didn't trade it either, but actually was a nice setup to short the trade I was waiting to long. Good for 40 pips. Why I didn't short it? Because h4 momo was long, and there was good amount of held profit that way. Shorting this was risky (to me at least that I'm learning).
After all, didn't take this long either, not liking how it is evolving.cfabian wrote:mmmmmmhhh, and here it is!!!!!
Let's see if we get long momo....cfabian wrote:Ok, I've realized you posted that trade when I was typing mine.
If you have further comments more than welcomecfabian wrote:espip,
This is what I was cooking for a trade. Price never reached my ZL. I've marked the MZ for the next candle, which could be a good entry as well.
The thing is that I was so hesitant to enter at that zone, as I thought price would come back to the line, specially since the first short candle (the highest price in the blue box) had already ZL some traders.
How would you have handled this? I didn't take the ride.
just how i viewed all that--- it worked--- but it doesn't mean it was right
yeah but the h4 bull candle didn't have a ton of momo ---- had it came up a lot further and was 2xish the previous i would not have taken the h1 area as that important.
but since it had the momo it had i took it of the h1 area
i was watching that long as well but the way that h1 bar formed into it created overhead resistance which decreased the room it had to move-- so i passed on the long
yeah our data is diff on the h4 chart i see what u are saying
i wasn't saying that to try and play long out of there was incorrect, just that since the h1 bar was 2x the previous on the way into that long area that it could create new resistance on the way back up
i would have been a lot more interested in it if the h1 bars were decreasing into it or if there was more room between that area of held profit that i marked and the long entry
long was correct there i just didn't like it all that much due to the h1 bar into it