DislikedAnd this is a very nice BO (for now ...) Has anyone caught the move? I've taken only first 35 pip ... too bad, maybe next time ... {image}Ignored
Disliked{quote} I chose to pass on that one, there wasn't enough data to support a BO into a new trend (for me). The beauty of low risk, high potential trades is that you can be wrong in your analysis and still exit the market in profit. {image} I did take a similar trade in which I felt there was enough data to support the trade (for me). Brackets all "look" alike, what makes them uniquely distinguishable from one another is the data. {image} {image}Ignored
I normally just pass, and look for other opportunities but since I took time to explain why imo the data didn't support a BO, I chose to act on the same info.
Well the data suggests a minor pause in the trend, an imbalance in the direction of the trend. LTF traders "respond" to LTF prices. So from a LTF perspective, above the bracket would be the most logical & advantageous place to enter, or re enter the resumption of the current LTF downtrend..The data supported the trade, so I took the trade.
Friday
EOD data following the trade friday, continued to support the trade..so I decided to hold the trade until the data no longer supports the trade...
Markets are not efficient, rather they are effective - Jones
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