Krmo, why you measure that way ? There is no valley in the way up for price to go and it went there. Just my 2c.
I took trade but as flag broke, but thats another story.
What I was seeing is a 2b with divergence followed by a 123.
So that high (1.3065) became a "resistence" level.
I want to be able to hit my target at or near that in case it holds.
There was only 12 pips if I entered exactly at the lower level.
I personally am not comfortable yet just taking an order off of a level.
Especially in a case like this where there is a potential reversal setting up.
I would have taken the break of the high if there was a retest but there was none.
Once again, just me!!!
P.S. - If there is no conformation then I am just chasing a trade and will probably get in at the end of the move.
Attitude can reflect outcome in life and trading!
