DislikedHey Mike,
Is this what you call a touch trade whereby a buy limit is placed at the BRN upon the first break (accomplished by the green bar prior to the retrace).
I guess this is one since there is no PA to indicate that a long is due after the retrace. Is my line of thought correct?
If so, did u take this touch trade?
Thanks.
CYIgnored
Yes this would be a touch trade if you did that. I did not take this. I was simply going through what I was talking about earlier in the morning/night about how you can both protect yourself from big losses on these bars, understanding what a true break is, and then what areas we can use to protect our stops. Another way to trade these is like you said as a touch trade and you can have a SUPER small stoploss. I just am not a touch trader as I haven't fully tested touch trading out(some day when I find some time and this is how I would do it).
Hope that helps
Mike