Disliked#2 GBPUSD Feb.22, 2019 {image} Very similar to Gold, yesterday. Didn't trade this one, but it seems my eye is picking up this kind of setup - Price after a long run, and again High/Low breakout occurred; ergo, caution. Will try to spot setups when Price is between Yesterdays High/Low. Seems more daunting when Price is ranging and H1 candles are making new Highs and Lows with no setup validated. {image} Validation: 2nd M15 candle opens between OPEN and EXTREME = we have a setup. {image} Result: Didn't trade it so, hard to say exactly. Depends on...Ignored
Also you are looking at this method as a standalone, which is fine and actually as you should be until you learn it. However if you do find yourself in a runner of a trade, then you should be looking at techniques that enable you to add into the trade as it moves.
There is also one point to make about these particular set ups you are finding. They are actually leaning more toward 1-2-3 than HOLO. In fact, HOLO actually works better in a ranging market. However, if you have found a set up that you like and find to work, then all good. Go with it. Just be careful of running HOLO in a breakout situation.
It's nice to see you working all this out for yourself though. Keep it up.
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