DislikedMike and Jarroo,
Do you ever take a trade without PA? Or without breaking the PA bar?
Take the beob on gbp/usd, bare didn't broke but went short at 1.55 BRN. This trade went into a small lose, but for my mind this was a bad trade.Ignored
Not the best location we want to see our BEOB. Your mind is right. Sure there is a BRN, 1.5500, and I'm sure Mike would not be too excited about this one.
If that 4 hour BEOB was on top of this Daily consolidation then now your talking and I would look for a touch trade on a retrace of the BEOB.
My TTs are mainly based on PA in one form or another, like at a retracement level within the PA.
Indicators show the past. Price Action "Indicates" the future.