hey N,
It got the A+ badge from me because of it's size, the fact that the nose was protruding away from the vicinity of price action, the fact that it was with the down trend, the fact that it was off the 61.8 fib of the (until then) recent swing, the fact that it broke very hard, the fact that it blew through your 82.46 like butter and because of the fact that it went on to hit the area one should have expected it to make it to.
oooh and did i mention the 83 BRN?
g.
Thanks for your answer, however, it did not answer the basic question as to what made you ignore the FTA of 82.46. That fact that it pierced through this FTA is all an after thought and in hindsight. At the time of placing the trade at 82.60 NO ONE can state with certainty that it will cut through the FTA like a hot knife through butter.
Your other posts explaining that PA stalled at FTA for 20 mins, also means that it could have reversed and head north.
Agree with you that the only way this setup could be played was to move SL to BE as soon as PA reached 82.46.
For me it was a doubtful trade, had I seen it.
Cheers
Novice 198
