DislikedYes I see where the 38.2 came from now. My bad.
Very nice. There's is nothing like mulitple confluences at given level. I'm liking this one more and more.
Boy, that Nov 07 BEOB was A++.Ignored
We are all by now familiar with Jim's 'this is criticial' post, but often when I see his charts he seems to not pay much attention to the very first PPZ if the trigger bar is super close to it. It's almost as if the bar itself is "off" that PPZ.
There are a few ways to deal with this. Your style from what I can see is to have a greatly reduced stop on a pinbar, looking for a hard break, so a break even/partial profit at the green area (on your chart) would be a sizeable profit. For a full bar stop that would offer very little and more often than not when the first area is that close price bounces from it, returns to test our entry and moves down.
It seems to me that some kind of first trouble area is always very close and something I am finessing in my trading is which areas to pay more attention towards.
I hope that makes sense. Saturday afternoon ramble...