prochargedmopar wrote:I am personally still long AJ trading to a congestion area.
Also known as a hook, pennant, cone, 123, failure, breakin, supply, orderblock, breaker...... What ever.
See the last candle?
Things don't bode well for my target to get hit before a larger retrace into my position.
On the other hand bredin would call the current image a pause n go.
Setnforget.com calls it a pre-cp... TL not yet broken on this TF though.
Forex trading coaches calls it a p1.
I just want to make $$ from my years of committed study.
So this is what I am doing now.
Having fun/building up some opm in the process.
How I would have played A/J. Green up arrows mark BDP and down is wick in direction of loss. SL were 10 pips on first entry and 15 on the other 2. Your screenshot shows yours set to about 80? Is that right. That is crazy. 3 trades starting at 78.80.
HTF analysis. Red line just showing were there is area of strong support. Yellow box is simple candle combining to show start of upward momentum. Then 3 day cc wick in the direction of loss followed by a single BDP with the current illusion showing possible wick in the direction of loss.