DislikedJaroo,
In your experience, which approach is more profitable if I enter the PBT setups using a touch trade?
1) Wait for the Bar (whatever TF the setup is on) to close and notice where it closed regarding to the level ( Idea confirmed or invalidated)
2) Use a smaller TF "signature" (by signature I understand a smaller TF bar that closes the wrong way that you expect it to) to exit ( Invalidates your higher TF PBT idea) and taking an insignificant loss.
I personally like the 1st one since it makes more sense and it lets the story...Ignored
A lower time frame Signature or Close Confirmation can give us a clue if the Support level (in this case ) is holding as Support.
Let's see if the current Weekly HCR level . .(chart 2) ..will hold as Support because PBT&CA this one on the Weekly. . . .we'll have to wait until the end of the week to be sure . .but the daily Close can sure give a clue or confimation that its holding as support . .so far so good . .
Indicators show the past. Price Action "Indicates" the future.