Dislikedjarroo
excited to see your comment on this setup. initially I went short at the break of low with 1/10 of my position to test, and in. then, I built confidence to put the rest at the 50% ret of the BEOB, that is 0.7600. now, I am in for the entire position. I did that coz I to be honest didn't have the judgement to the quality of this setup, totally a blind play. however, after seeing your below comment, I am more confident that there probably will be a good run to come in one day or so.
edit. stoploss always at the top of the setup for both...Ignored
Interesting how you scaled into the trade. I like it . . how it minimizes your risk.
Confidence building in this method is very important. Just ask bakkos85 about his Nzd/Usd trade.
Sure, we pour over thousands of successful charts and failed charts.
But when we actually do the trade, make the entries, place the stops and see it unfold (or not) is when the real learning and experience begins. This is why we practise, this is why we demo.
No matter what the outcome of this trade may be, krue, you will gain so many different levels of experience from it that you may not realize it now. But you will.
Jim
Indicators show the past. Price Action "Indicates" the future.