DislikedHello lbtrader,
Thank you very much for your reply.
Well, I know I hit some resistance, after which, price pulled back...but how do you anticipate if it's going to continue or pull back?
My reason for asking an experienced person's advice, was to have a piece of tested knowledge on how to avoid such drawdowns using Ichi...rather than thinking "this is probably what it was".
My trigger and SL strategy was basically the rules that were posted: evaluate the trend, make sure all criteria meet, use lower time frame for better entry, SL below cloud.
I'd...Ignored
In any case, I would have liked that you showed me exactly on the chart where you thought that all the criteria were met because in the charts I gave, there were clear indications that strong resistance/support was facing ahead of your trade, and therfore you should have waited to clear that resistance. in the case of GU, the price was in a channel and ranging, therefore a break below that channel would have reduced the likelyhood your SL being activated, the same with UJ, that rectangle shows again the power of Chikou span as a filter against impulse trading, beware when it is moving sideways, this means it is reversing soon especially if it occurs far away from the original breakout signaling the end of the move, which is where you took your trades.