Disliked1.2875=test of the upper wall of the descending channel...dun dun dun...moment of truthIgnored
if price simply trades sideways after a HUGE move and is simply consolidating after that kind of pa, how does a penetration of a side "wall" constitute a "breakout"??
I've studies some of your charts, and I honestly differ with you here. THAT'S OK!! I differ with myself half the time...
Here's my current 5m chart on MT4 to keep it all the same thing... I see any "breakout" above that black line which is not a drawn TL, but the 200sma as a sell trigger, given the current traend down and no reason to believeit's changed. The fine red lines are 5m horizontal support levels that are clearly going lower for now, consistent with the declining 200sma. I'm leaving out the confirming signals from longer TF's right now to keep it all simple.
That said, I also would not take that same exact trade RIGHT NOW, as there's little to no momentum and therefor no trade.. for me. I expect it to drift for awhile here with all the normal little comes and goes of exhausted price action that typifies the late NY session.
I'm tryin to build a constructive bridge here. You've got passion, that's for sure. and they say that was the only question the old greeks wanted to know when they buried you, not if you were a good or bad man, but did you have passion...
Have to leave for an hour, I'll check back later
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FUBAR...