DislikedJim & Mike
Yeah, I realize he was probably going to go to BE real quick but, even so, is it really worth risking the SL for such a setup?Ignored
I will take bars like that and get our real quick BOTH ways. The issue is most sell a pinbar, leave their stop above the high and just hope and pray along the way it becomes a big runner. That's the recipe for disaster(most also do that on so-so trades which is even worse). But if we have a great idea where price is going(just as you marked up) and a great idea where to hide our stop, that's a high probability trade. That's really what anyone should be doing, no matter what trades you do or don't take. So you aren't risking so much, it's a matter of how you approach the trade. If you start with your stop above the bar then you shouldn't be taking a full bar loss but instead looking to cut out quick. Just as you are looking to get to b/e quick. This is where most don't because of size of their account or other issues.
Best
Mike