DislikedJoe, i want to add my point of view after the excellent comments of Gravi for your yesterday UJ trade.
See the chartsIgnored
I did enter that market at that price also as shown in the chart I was agressive on the 1st entry at a 38% retrace (hindsight with a chart misread) and got stopped out for 6 tics and reentered at the 50 % retrace when the market turned on the 5 mintue. That is part of my new approach is to look at the 15 minute and make entry decisions on price action on the 5 minute. Granted it is a work in progress and I have to retrain myself to see and feel what the market is showing me with both timeframes at the same time.
Granted I do need more S/D work. My area of focus is on exiting and to follow specified targets 2:1 on the 1st 2 impulse waves and 1:1 after that. This has been one of my weakest areas to grasp and follow. So baby steps with it all but I do feel its moving in the right direction even though the trades don't currently reflect it ( thankfully thats why they have demo accounts --- even though the losses do feel real non the less). Joe
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