DislikedIra,
Can I ask how you pulled the trigger on the EUR? I was anticipating this trade but by the time the 1H MACD gave me the TC trigger signal it moved too much for me - I get fustrated with the indicator because it lags so much.
Thanks.Ignored
I can't say that I have mastered the breakout trades, I am still nervous to miss the move, or to be wrong, but it gets better. I especially like when the price is stuck between 2 major MA's, I already know that after the breakout usually comes the big move, like my last trade on EUR. So, I was prepared. The odds were for the down move, so I decided if I see a bearish candle closing below 200 I'll take the trade.
When I opened my terminal at 7:45 (GMT +2), 15 minutes before my 4 hour candle close I saw that market opened with gap and price went not only through 200, but 365 too, and the next candle was closing below 365 - that was my entry, after the close of 4:00 candle. I knew that there can be a retracment to the 365, and it was better to put pending order there, but I was scared to miss the move. As I was aware of retracment I put my SL above 365. That's it.
So, if you see a good move from the consolidation and the candles are indicating market movement, don't hesitate to take a trade, they are usually very profitable. You may be wrong sometimes of course, but we can't be always right .