DislikedMyTbo,
Congrates on your pips on fig! But since you posted some question about rescue and attack, I would suggest another way to think about this trade.
Hourly trend was up yesterday, upside was capped but sentiment was very long eur, everybody wait for fig to crack top(it's still so today). When fig out, Swiss Private bank used the fig volatility to sell, but market absorbed him within 2 hours.
If you go short and got caught by the white bar, you have to wait the seller successfully defend his level, or wait hourly melt down, to rescue. Or,...Ignored
About the " retrace turning into reversal' thing I must say that I try rescues instead of flipping. I don't know when to flip. I remember fti saying " If you change busses frequently you will get run over soon", so I refrain from flipping. When I'm trying to rescue in the "retrace turning in reversal" case I usually lose the pips I got previously and even more. That's maybe my biggest problem.
So how can I deal with it? Any advice?
Hope you are on the right side of the trade
Cheers, MyTbo
P.S. What do you mean by the hour meltdown? Can you show me an example of it? This is maybe a stupid question but I'm still a newby