DislikedDon't want to be negative but I really don't understand why anyone would take this trade.
Look at where we are - this is a huge S/R area.
Surely Strats method advocates looking at these areas and SEEing how price reacts.
I'm also watching this pair at the moment but I'm waiting for PA to tell me where to go.
Am I missing something??
Ignored
Trading any of those hammers means buying into a major Resistance. The R is very visible on weekly and monthly chart. So buying into an area where it is expected to be defended by sellers is not a good ideea. And by sellers i mean those that actually move the market. If you are not one of those traders that moves the market, then its advisable to wait and go with the winners.
If you are a day scalper then I see why you would be inclined to buy the 1st hammer and have a TP under the R. If your TP level wasn't reached then surly you would tighten your stop. Then you would have been stopped by the 2nd hammer as Lou said.