DislikedThanx Jarroo. Do you think that a touch trade would be an option in this trade, since price pulled back to a strong BRN @ 13000 ? In general when price pulls back to a BRN/strong PPZ's could one consider taking a touch trade off these strong area's ?
May the force be with you.Ignored
Yes, a touch trade can be considered at these strong BRN/PPZ levels. But there is nothing like a solid PA confirmation on the lower time frame to improve a touch trade's probability.
Also, any additional confluence to a strong PPZ level can make all the difference to a potential touch trade. Like the 135.00, strong BRN, PPZ level with just that added 150ema confluence probably made the difference, at least to me.
Ghous had a post awhile back showing this nicely on the 4 hour GJ. .mutliplie confluences coming together at one point. . .50% ret., trendline and Daily PPZ level.
Indicators show the past. Price Action "Indicates" the future.