Posting with a delay as I stepped out and order executed automatically. Longed @ 1.5712 and squared as a quick scalp of 4% @ PP. Would hold for longer maybe but default limit order to TP was there.
Swing top offered a nice short... Didn't take it though, still not confident enough in those signals...
ok - here's a rule of thumb... when you have a decent move (that's relative the the action that day), just buy support and sell resistance with a close stop. There's a good chance the swing up is complete and good profits are in store on a reversal short, but a close stop lets you reverse long again if there's a breakout trade up - again close stop. So you had a Double Top Resistance after a decent move up - try for a swing reversal. But after that play you had a slower but excellent Key Reversal on the 1 min. Playing the S&R is aggressive and KR is next - two good signals. This is still way ahead of most players. In addition to the prior top resistance you had a narrow channel up with good contacts.
Important day today, because of ECB rates announcement @ 12:45GMT... Guess this can cause some chop during European session though and a lot of volatility after. The only strange thing about it all is yesterday's rally. Looking like either leak or a fakeout before a massive selloff...
True.... Still don't feel confident in fading S/R despite I know it offers the best R/R ever possible... Simply still have no feel of what move is about to exhaust and what not...