Good point on pivot & SR. but just to add that i think not all pin bar candle can be a trigger because sometimes it is quite discretionary. best if it was formed during rally up or down. it maybe dangerous to take the pin bar if it has been consolidate for quite sometimes. i will look at length of the wick and its location to determine its quality. but these rules are not cast in stone.
sometimes, i think maybe wise to let it break the lowest or highest of candle as we are normally doing counter trend when there is a pin bar. triggering in the middle of a formed candle sometimes may result in loses.
just a view and peace to you.
p/s: i visited your thread sometimes, I have great respect to you.hope you will post more often.Ignored
S/R trading is very discretionary in my opinion. As I use these levels on futures, I prefer to fade the first test of the day. I concur with you, once there's a consolidation on a level and therefore multiple test, it becomes quite dangerous and volatile. I personally had a tendency long time ago to pull the trigger out of balance. I just resolve this dilemma to place stop orders fading the level and managing the trading with trailing stops. That way I remove any emotion from the trade.
I believe S/R are powerful as many institutions are watching these levels and planning their trades accordingly.