Dislikedeurnzd 4hr, its up at the moment. The last 4hr candle closed above the open of the previous down candle...Ignored
Great feedback on my trades. Please keep them coming as I (and hopefully for our readers also) am learning a great deal. I need all the criticism I could get to improvise on my entries.
Forgot to mention this... apart from strong purple resistance, I was also basing my short entry on a down trend line on H4 toughing 3 wicks. Now, that H4 candle has closed above the down trend line, it introduces an interesting scenario. If first H1 candle of the new H4 candle closes above the resistance line, that would be a very strong indication to go long imo.
Until that happens, I am still a bear on this pair and plan to do the following...
1. take one more short if I am able to move my 1st trade to BE
2. and this time, price will HAVE to close below the open of previous up candle before I enter (lesson learnt!)
3. and most importantly, I am awake when above conditions are met. I will wait for current plus one more H1 candle before I call it a day. I will look for breakeven opportunities during the last M30 candle. This will allow me to save my ammo for another day :-
Staying in my lane...