Disliked{quote} Dumb mistake, offcourse I mean support. The H4 candle closed as an indecesive bar, long wicks no body, also there is less momentum. I see pressure on the Euro on other pairs, this together with your good advise results in no trade yet. Just keep in observation. Thank you very much for your quick reactions. As I experience myself how much time it takes to make a post, I want to make a deep and respectful bow for your contributions. Update: I see you added an question,and yes I'will try to make an positive contribution to this thread,Ignored
Actually it's just a general mistake support will soon be resistance and resistance will soon be support.
When price is falling then stalls, people usually enter long, given that there is support on the left.
This is a misconception and in fact it's too risky considering they're trying to catch falling knife.
Price stalls because it's meeting support, where everyone take their profits and closing their trades, but doesn't mean price cannot break through that level. Once it breaks through, this strong support will become a strong resistance and less likely they can have BE.
Why once breaking through, it becomes strong resistance? because people will assume that the level won't hold and start to short targeting next support level. So price keeps falling until the bears stop. Their short order SL will be either at BE or above this support (now is resistance for their short orders), hence it becomes a resistance level.
When meeting this scenario, we'll have to wait and see if that support holds, and price bounces back. Or, wait for reversal signal, such as doji. That is when we enter with SL below the support.
back... and more dangerous.