Dislikedwhat do you think about that IPB ghous? im asking you beacuse i know that youre the master of IPBs
it seems like a good IPB for me, its on a RN (126.00) i put my SL at 125.80 and TP at 126.90 (i also intended to close half of the position around 126.50 and move the stops to BE)
the bad thing is that is running into a very strong ppz area(127.00)
Attachment 401650 Attachment 401651Ignored
A round number isn't all that matters. It's the formation of a ppz at a round number which matters more...i.e. the number of times price has respected and flipped around the round number.
On my chart such a level closest to the IPB is the 127.00 level which which goes right through the longer wick...hence given that the only thing going in its favor was a non ppz round number the setup was IMHO a
Since we play around with really tight stops on our IPBs we want to take only the very best out there with the maximum number of confluences.
I believe . . .