oh sorry, I guess since i was looking at the chart after the fact it looked as if that would have made sense, but anyway I think that if you did that you would have been taken out of a bad trade with minimal loss, which is a good thing :-). I think thats what Jaroo and the bar break setup is all about. To eliminate non high momentum setups with small losses.
DislikedThank you dmc...
"Something that Jaroo taught me is the bar break stop, whcih would still keep you in this trade with reduced risk. After the bar breaks put your stop behind the bar that breaks it, that way if it is not a momentum setup you will be stopped out with lower risk, because to be hionest you dont want to be in a low momentum setup on the 4hr IMHO"
The bar broke and then was slammed down 50 pips below its previous low, so this would not have worked either.
This stuff is damned tough.Ignored