DislikedIs this the kind of thing we are looking for? Bearish outside bar at a weekly high? What are some thoughts on this chart? {image}Ignored
Yes this is along the lines where we want new traders to begin to search for trades. The issues against this one are size of the reversal bar verse the proceeding much stronger bull bars. Now we can take it a step further and understand where is price likely to go? Notice the BRN and the bar highs just below us. a Break of the bar will get us there. Many will not want to play in that area because of the BRN just there. I would say watch how that area breaks, if that can break down you have a good chance for that to hold as resistance
Best
Mike
Attached Image (click to enlarge)
Did you play both tests? If so, how did you get in on the first one as this did not quite hit the Daily HCR (low was 2-3 pips above the level)? Do you always use a little buffer zone to enter? Do signatures qualify as such even if they fall short of the level by a few pips on their test (as in the first test here)? Where did you place your SL in this example and how did you manage the trade? Sorry for posting all these questions, but I must admit that I really like your...
