@Dinkan, Yes it's pretty obvious..! Losing is part of this business..! We move on..!
Dinkan
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@Fxprotrader, Thank you, but just to quench my curiosity, what made you enter this trade?
Fxprotrader
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@Dinkan, Based on structure i drew a downsloping modified schiff and I saw that the upper parallel acted as resistance when price tested it.. So when i saw price reaching the parallel once agin I thought that the resistance will hold.. But it didn't.. Look at the USDJPY setup.. Same concept but it worked out pretty good :
Dinkan
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@Fxprotrader, Intelligent reasoning. But, my question is just that if price moves in a specific direction, does it respect "lines"?
Fxprotrader
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@Dinkan, No lines are only tools to hep you with your analysis.. Into a chart they represent levels of support or resistance or wrap patterns. Market structure, risk/reward is what defines a setup as worth taking it..