Monday, October 31, 2011

Always wait for candle close

Got stopped out of a really tight trade right before hour close around a long-term trendline. Price rebounded in my favor just after, but it goes to show that you should always wait for candle closes especially hourly and 4 hour candles as there's can be some fight about where price goes around those times. Luckily, I played it with a tight stop and a half-size lot so the loss wasn't much of anything.


EDIT: Cable is on a huge rally, but I'm just watching. I'm definitely flat on EUR/USD for a while, it's too crazy down by that trend line, will wait for a clear signal one way or the other. PA just looks like a tug of war.

1 comment:

  1. indeed always wait for the candle to CLOSE !!!!! its for your own good !

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