DislikedThis was a nice one - although not a Daily TF trade, it was of the 4 hr variety. Noon local time bar which closed at 4PM was a no-brainer.
Nice size BEOB, formed at a solid Resistance area (a Head and Shoulders - if you go in for that kind of thing) and the size of the bar was sweet. Don't let anyone fool you - size matters.
So now, the trade is up 3R - AND we have busted the 1.6000 cleanly. I had the luxury of being able to move my stops behind the bars as it got to and through that major PPZ.
It would not surprise me if we consolidate...Ignored
Your chart also illustrates why we look for BEOBs at swing Highs and not BUOBs, which is also shown.
Indicators show the past. Price Action "Indicates" the future.