line chart shows the res and i find this type of res has been fairly reliable but requires confluences as well.
I will like to document this down and from the post rmbr an idea of having the luxury of two types of trigger to use, as long as I can sell at highest, or buy at lowest.
The crux of what makes either one trigger a reliable one, is not the trigger per se, but the strength of setup. Here the connecting situation of 6 weeks res and line chart res, together with clear macd divergence provides a compelling reason for tflow users to short on a multi day 1234.
After morale was down from wednesday fomc cutting loss on CADJ n EUrJ , thursday began with a prospective AUDUSD triggerpoint short setup completing.
Price has already closed nicely by 9am. I had the conviction to hit a big position by 0901, and set a sell limit in order to ” earn a bit more”. However, it was a a classic case of murhpy’s law as my order was not taken by a mere 1 pip! Price plunged while I was travelling. the only good thing I did was to cancel the sell limit order as I seen the candle closed as a strong bullish pinbar; not good for bears.
Could I have done better? Could I have done better? Maybe not, since I was committed to using LOBSOW for this. No regrets, but just a sucky feeling. Would I have taken TP at the h4 low? Maybe.