Let me use today's trade to explain why I bring sl forward,
there were too buy setup one was at 4115 area and one at 4108 and price invalidated 4115 so I thought it could easily disobey the 4108 but the thing is 4108 buy was on a higher time frame than 4115 let say d1 and d2,
4108 buy was a d2 so after the sell move away from entry it was best to bring sl to 4132 to reduce sl completely because since price couldn't invalidate d2 buy and respected it that push could have moved above 4140 to create a new high.
I gave the buy when I woke up and realized the sell was invalidated but instead of price to move above 4140 it also failed and respected the whole supply on m30 around 4130-35 and came down to clear a particular area of the new buy zone that was created and that was also a sign that it could sell again so need to buy or hold buy but wait because the real sell could start after 6 a.m. UTC so it will range for a while , so the thing is if not the d2 buy setup price wouldn't have moved above 4132 but rather sold more and bringing it to 4132 wasn't bad, it could have easily buy more if not that bullish momentum was low to push price up.
there were too buy setup one was at 4115 area and one at 4108 and price invalidated 4115 so I thought it could easily disobey the 4108 but the thing is 4108 buy was on a higher time frame than 4115 let say d1 and d2,
4108 buy was a d2 so after the sell move away from entry it was best to bring sl to 4132 to reduce sl completely because since price couldn't invalidate d2 buy and respected it that push could have moved above 4140 to create a new high.
I gave the buy when I woke up and realized the sell was invalidated but instead of price to move above 4140 it also failed and respected the whole supply on m30 around 4130-35 and came down to clear a particular area of the new buy zone that was created and that was also a sign that it could sell again so need to buy or hold buy but wait because the real sell could start after 6 a.m. UTC so it will range for a while , so the thing is if not the d2 buy setup price wouldn't have moved above 4132 but rather sold more and bringing it to 4132 wasn't bad, it could have easily buy more if not that bullish momentum was low to push price up.
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Informacje i publikacje nie stanowią i nie powinny być traktowane jako porady finansowe, inwestycyjne, tradingowe ani jakiekolwiek inne rekomendacje dostarczane lub zatwierdzone przez TradingView. Więcej informacji znajduje się w Warunkach użytkowania.