I've often found the 5m gives better signals than the 1m - for me, if I was trying to pick up a few ticks the red lines are where I'd be looking to enter. That said, I'm not much of a scalper. You still might have been taken out on the second trade, anyways, but since the previous low was just cleared to the left of the chart not too much reason to think the push lower is over yet if you can withstand a slightly wider stop.
That's all I've got!
Hi Macro
ReplyDeleteThanks for the advice, always good to get someone else's perspective. My levels are usually on a higher time frame than 1 minute too, but I trade them from the 1min, your level was pretty close to one of mine. Usually I'll watch what happens when it's getting there and decide how I'll play it. The trade in question was going to be a quick scalp and then I'd be looking at going the other way (if i didn't hit daily stop), but my timing was well off and has been all week.
Sexy blog, makes me fell quite embarrassed about mine, I look forward to reading it
Cheers Pete,
ReplyDeleteI got destroyed this week, so I share your pain =/