DislikedSo this mean you only take trades after price reaches a confluence level (i.e. S&R, Fib.) with round numbers? If no round numbers at a confluence level then no trades?
Also, I have a few questions about 123 breakout patterns.
1. Do you wait for the candle to CLOSE beyond aspect #2 or as soon as price moves a few pips past aspect #2? In some cases, I saw 123 patterns with prices briefly moving beyond aspect #2. It would breach the trendline for a bit, then closing back below the trendline with SL being hit later on.
2. Do you still take trades...Ignored
2. I am not sure by what you mean "Far from spect #2" I can show you some charts if that would help even though there are quite few of them posted in this thread. I would have to dig them up.
Also if there is a round number near the #2 aspect then I will use that RN as my entry and not use aspect number #2, those round numbers are key, watch was price does around those numbers and you will see it bounces all over the place even if there is no S/R in the area, the reason is because there are TP's and SL's at those levels so price bounces and gets really squirrely around those numbers.