Dear Mr. Pip,
today was much better.
However, I have some questions.
After the NSH Failure (point 3), I expected a retest (not always, but I was expecting it here; do not know why) and a deep retracement (78.6 fib), which I got. After that, I was expectating a little NSL.
Here my first question, if I wait for candle close on the retest to enter short, I would not get a lot of pips out of the remaining move. I avoided that by placing a pending order, but this omits the "candle rotation" information. Maybe not so good. What do you recommend (would it be best practice to enter at the LH at point 4 with a little bit of candle rotation information?
After getting the NSL, I expected a little correction (because of big bearish candle) and then a NSL. This expectation failed at (point 5; above line long entry). To be honest, the big bearish candle on the left scarred me a little bit. Expectation was a new NSH.
NB: I prefer your tick chart, but I do not have this on my wonderful MT4. I can also not understand why some people do not believe in fibos, but ok. We are many ways to rome ( do not know if this expression exist in english).
today was much better.
However, I have some questions.
After the NSH Failure (point 3), I expected a retest (not always, but I was expecting it here; do not know why) and a deep retracement (78.6 fib), which I got. After that, I was expectating a little NSL.
Here my first question, if I wait for candle close on the retest to enter short, I would not get a lot of pips out of the remaining move. I avoided that by placing a pending order, but this omits the "candle rotation" information. Maybe not so good. What do you recommend (would it be best practice to enter at the LH at point 4 with a little bit of candle rotation information?
After getting the NSL, I expected a little correction (because of big bearish candle) and then a NSL. This expectation failed at (point 5; above line long entry). To be honest, the big bearish candle on the left scarred me a little bit. Expectation was a new NSH.
NB: I prefer your tick chart, but I do not have this on my wonderful MT4. I can also not understand why some people do not believe in fibos, but ok. We are many ways to rome ( do not know if this expression exist in english).