DislikedYou have 3 choices I think...
1. Wait until the price hits the ema in your chosen tf
2. Look to shorter TF's and try and see if there is a sync motion in a lower TF.. is price bouncing off an ema in a lower TF?
3. Look for another pair where there is better value.
I guess you could counter trend if you believe price has hit a strong resistance. I don't really like doing that because i have lost money going against the trend. I think it is easier to do on high volatilty pairs like GBP/JPY.
Anyway, i hope Effi doesn't mind me trying to give a view even if only so he can put me right on this so i can understand myself what he would do in this sort of situation.
Good trading to you all!Ignored
When i teach i advise students to forgdt about the situation and drop it.
There is at least 20 pairs you can trade, don't get greedy, you can make money on all of them - If you missed an entry, you missed it, just leave it.
Reentering now is technically risky. There are methods to do this and i teach those, but my advise is to just stay out of the trade and look for a fresh signal where your SL can be safe.
Regards,
E. Lang
"One Grows Tall After Walking Through A Forest Of Tall Trees."