PL: R-0.9 £-18.33
Summary: The trigger of 2 was a HM that barely grazed the prior PBL level then triggered, this trade eventually got stopped out. I've had this happen before, despite working as triggers a deeper penetration would likely have made this trigger more successful. Perhaps triggers should not only require that they touch the level but an imposed penetration requirement of say 0.5 pip (you want to see some clear wick on the otherside of the level) should be asked for confirming an actual "test". A "touch" would literally being a graze of the level and should not be traded. Had this been appiled I could have held (1) on a TSL through the congestion. The general strategy of trading off a recent level when tested is effective but technicalities of how I execute the trades is the issue.
Green Arrows = Entries Red Arrows = Exits
1. Short off test of prior RLHs, entry tick blw prior bar low, Exit trade 2 triggered. R+0.1
2. Long off test of prior PBLs, entry tick abv prior bar high, Exit ISL. R-1
Summary: The trigger of 2 was a HM that barely grazed the prior PBL level then triggered, this trade eventually got stopped out. I've had this happen before, despite working as triggers a deeper penetration would likely have made this trigger more successful. Perhaps triggers should not only require that they touch the level but an imposed penetration requirement of say 0.5 pip (you want to see some clear wick on the otherside of the level) should be asked for confirming an actual "test". A "touch" would literally being a graze of the level and should not be traded. Had this been appiled I could have held (1) on a TSL through the congestion. The general strategy of trading off a recent level when tested is effective but technicalities of how I execute the trades is the issue.
Green Arrows = Entries Red Arrows = Exits
1. Short off test of prior RLHs, entry tick blw prior bar low, Exit trade 2 triggered. R+0.1
2. Long off test of prior PBLs, entry tick abv prior bar high, Exit ISL. R-1
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