Also remember any change in direction will happen on the 15 min first.. Plus time of day comes into play if price has consolidated a false signal can form on any time frame. Also never forget the overall trends on you 4 hr and daily charts. Which has been up. Until sings start to get broken direction doesn't change and on my charts I see no new lower lows or highs on 1 hr or 4hr. since yesterday. The canldle next to your pin was indescisve having not made a higher high or low than the pin. It may have pulled up the wick then went back short which would have actually made a short but the failure of the break lower just renforces the buyers strenght. But could have beena nice countertrend trade.
Always watch for your trades to break swings to be long term trades. If the price stalls or turns back at the swing the trend is probablly continuing. And as it is a countertrend trade quick profit taking is crucial.
Hope this helps . ken
Always watch for your trades to break swings to be long term trades. If the price stalls or turns back at the swing the trend is probablly continuing. And as it is a countertrend trade quick profit taking is crucial.
Hope this helps . ken
Good Trading To All ; Ken Lee