DislikedGuys, I feel I haven't grasped the H1 BO very well, and I hope you guys can clarify any misunderstandings I have. What I understand now is that, once the H1 and H4 RSIs are in agreement, a pending order can be placed at 15-20 pips away from from the 4hr box. The BO is supposed to be fairly quick, so when price moves against you quickly it is best to exit with minimal loss. Does that roughly sum it up?
I'm practicing on a simulator now and while I'm doing ok on some pairs, I'm getting absolutely murdered on USD/CHFIgnored
So, the pending order is 15-20 pips away from support/resistance ("the box") in 1 Hour, not 4 Hour.
I'm not sure about the rule "when price moves against you quickly it is best to exit with minimal loss." - IMHO we need to observe PA carefully, in 1H and also 15M candles, to see a BO and gauge where PA is going.
Perhaps you can posts some pictures of your USD/CHF trades, so we can discuss them more specifically?
Hope this helps. LG and everyone, please feel free to agree/disagree/correct me if My Humble Opinion is wrong. Thank you!