DislikedI like the system, itīs a great help in identifying the direction, which price will head with a high probability.
The Art is to identify the real movers and in my eyes thatīs really an Art and in that it looks like i am not the succesfullest. The criterias for long and short are easy.
Wahnon himself says he is not trading against barriers. So in this case one should not take the actual trade now because it will go against the pivot level from this fibonacci pivots indicator which wahnone posted yesterday, (many thanks for that, it appears a lil different like my auto pivots still didnt figure out why what differs).
My qustion now is, what do i not see? I took the trade before, i took it a lil late cause was hesitating after it brohe the pivot level but then i took it and got out with a lil loss from around 13 pips or so. Now the actual trade pushes against the pivot level and if it breaks and the next candle is closing underneeth, is it then a good time to go in or is it not recomandable because it is still lurking around the pivot level or because one should take the trade imediately when it appear. I would appreciate very much if you guys would post me your thoughts how you do it under which criterias.
thx, tickIgnored
About the price breaking the pivot points, it depends on your personalty. If you can afford to risk going against a barrier like the pivot, then so be it. Personally, i do not trade against any barrier and on this particular trade I also entered after the candle closed above the pivot, and I also had about the same loss as you. It doesn't bother me because i know a better trade will come up at some other time.
Note: Losing is part of the game. Just be assured that the good trades will outpip the bad ones.
Good hunting.