Disliked{quote} I should have explained earlier, the trade wasn't made on 15 Min - that was for ease of displaying the entry and result And it's not so much about the trade but the timing Trade was a 4 Hour breakout with a stop loss equal to the ADR, and I still lost That really sucks because the analysis was right, price is above and going up today But I guess with your trading small time frames, trend not so much a consideration? ThanksIgnored
There is this very cute trader from FB who mentioned taking trades on the ADR. ADR is a very dangerous indicator to follow only because it tends to get away from PA. A mix of using the 15m with the 1m allows me to continue with the trend (15m), while focusing on the accurate entries on the lower tf. Imagine how you would have felt if you were buying and the price never came back up. Clearly, GU created a cup and handle formation but those formations increase depending on the day of the week. We all know that ADR gets wider due to Thursday's and Friday's price action being those days typically have the highest range. Which means Monday - Wednesday, typically, will be the days which you see "reversals" of "break-outs" better known as the cup and handle formation.