DislikedThe trade before.....again late in the day so I'm looking to exit on the first M5 trigger or on PIPS. Here I was aiming for 30 PIPS at the start but if I hadn't hit the exit trigger I would have started to reduce my PIP target as the week neared closing time...or exit on a short trigger.
We get an M5 Long trigger, wait for M15 to go up and make sure the price is up on M5....we meet all that and enter the long trade.
Ride the roller coaster and notice how again our exit trigger grabs a nice spike when the M5 short trigger appears.
That was 21 PIPS for me (27 PIPS was the max close to close less spread).
The dive at the beginning of this trade did stress me, but stuck to the rules and rode it out....Ignored
I'm wondering if entering on the white candle right after the M5 trigger would be a better place to have entered since the M15 was also pointing up at that moment as well?