I don't blame you if you entered where I have marked number 1 on my chart. Initially, that showed that price was too weak to retrace fully before continuing with the trend. However, as soon as the next candle opened and started rising, it probably would have been prudent to leave the trade, and see what else price was going to do. It might have just kept on rising (which it did, to some extent) and you would have staring at a large drawdown. However, if you look at how price then peaked between the 76.4% and the 61.8% lines with a dragonfly doji, that should have been a "heads-up" that there was a strong possibility of price reversing and continuing with the trend. In actual fact, that's what happened with price not only dropping through the 61.8% fib but the 34 ema also giving the move extra strength, in my opinion. My entry would have been where I marked the number 2, just under the 38.2% line. From then on, it would have been a case of counting your pips!!
Hope this helps, mate.
. But when I trade, I cann't consider all these things. In addition, for me is difficult to see some thinks (like TL without figure). Therefore I try to use only these thinks, which are full clear "for my heart and my eyes". So, after I read your explanation I saw, for me is easier this way - when the first time the retracement fails, I will draw a line (as on chart) and trade the bar which close below the line.I know, you and fx1 and Islander don't need all these, but may be that will be helpfull for the new trader like me. Therefore I post all that.
Thank you for your patience!
.. It could be. Let's see if the ascending TL holds. On large formations like triangles and ranges which takes a long time to form before a breakout. One might notice that trading the bounce on the borders can be profitable.
