DislikedCan you please explain little bit more here ? Where you would like to see a third touch ? I see that trend line is touched 3 times(marked in green) but on the third time price did not move up enough.. Are you talking about this one ?Ignored
Yes exactly. It simply touched and formed that very tiny pinbar. I want to see price move away or really confirm that even in the short term this is holding(even if it is not for the longest time). Again when a line like that breaks it often does indicate a change in direction. But I am looking for very clear areas/patterns/lines to trade off. This often means I want to look for a pullback to this area. It becomes easier the more I understand and believe in the pattern/line I am looking at it. Part of those rules for me are just as I have rules for the individual bars themselves. This is just one of those rules.
Check out my recent gold trade and how well respected that trendline was. Obvious is always easier to trade in my eyes.
Best
Mike