Disliked"Knowing when to touch trade and why". Think about this very deeply! The market movers can not hide their intentions. {image}Ignored
Regarding the GBPJPY chart you put up in the quoted post, I'm having a go and figuring out what you're getting at here.
I see that price broke an M30/H1 SR level, retraced slightly and rather than letting price head back farther down, the bulls quickly pushed to keep the rally going.
I believe this is the FTR/FL concept that the RTM guys use.
I've certainly noticed these "pushes to continue" after a significant break being a great location for a reaction, and yes, price reacted nicely as seen on your chart.
However, what gave you the confidence to consider touch-trading it on the second time back?
Is it because that on the FTB, there was renewed buying strong enough to reach higher than on the previous swing, post-break?
Was there a particular target higher up not yet reached that meant that we had to remain in this price-region before breaking back down to the lower one?
Thanks!
By the way Warren, I've read loads of your inspirational posts on the RTM website. Really, really excellent
Andy