DislikedHello Jarroo,
Today I took the EU, UCHF and AJ daily pin bar trade. The EU and UCHF has enough space allow me to take enought profit. However, the AUDJPY trade got me 70 pips loss.
Please see the chart attached. My entry is around 76.50, more than 10 pips above the pin bar high. I orginally set the stoploss to the "The bar breaks low". The market go up and take my entry and maximum give me 5 pips and reverse backdown. I finally reset the stoploss to be 75.80. 20 pips below the 76 round number.
I knew 76.5 is some kind for hurdle. If I follow...Ignored
Trading into traffic can be tough. It's hit or miss sometimes.
I like how KissFan analogized this as a "seam" in traffic that Price has to break through, like a football player. Sometimes Price finds a hole and sometimes it finds a brick wall. The A/J PB found a brick wall.
As we all should do, we look at the level higher time frame (Weekly) to see if there is any supporting Price Action that would agree with our Daily PB.
If we look at the Weekly A/J we find a bullish PB, with the trend, that has broken very weak (green). Then a bearish PB (blue).
Attached Image
Indicators show the past. Price Action "Indicates" the future.