This has been covered before, but taking a 1 or 2pt break back above or below a level makes no sense as I get caught in a vibration around the level. For this trade to work, there needs to be a vibration or a compression around the level which then breaks.

There are probably some PA contexts where you would want to do this, but so far the results aren’t good so it’s a trade to stay away from.

This trade was a break back above the TL and the low, but it was more likely driven by the big bar against my short position…

This is one that does work but it’s a much easier trade if I can wait for the retest of the level, especially with the failed bear candle…….

Comments are closed.