Hi,
so this deal finally came back. Good that I took profit with 2/3 of the load around 1.4415. Now, I would like to submit to the experts and senior members a question: Once I realised, in the bearish journey, that 1.4435 was acting as a new PPZ, I set my remaining 1/3 SL at 1.4445, where the red line is. Market came and I took that profit as well. The thing is that I realised this in the 30m / 1h chart. I only looked at them once my first profit was already cashed and after noticing some struggling to go further down.
So how do you see this,...
I would recommend not doing this stuff at early stages of your learning curve. Just trade and manage the TF you took your trade in.
Cause it gets very confusing when you see counter PA in a lower TF and it shakes you off your initial trading plan.
Some people (including Mike) do trail there remainder positions behind 1-2 bars in a lower TF. I mean like taking a position on Daily and trailing it on 4H bars and there is nothing wrong with that.
But if you try to "analyze" the situation in lower TF's, like finding PPZ and FIBS it gets confusing.
So all i am trying to say is Keep It Simple.
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