GBPUSD S&R question?

[SanMiguel]

Looking like a good break out trade. Any recommendations? Should I wait for the trade to confirm the S&R line a few more times? This on my demo, should I have waited longer for the entry point? It looked like it was going to bounce off...

 

[wasp]

If you need to ask, you're gambling.

Either you have a plan, or you understand and trade on intuition/fundamentals/the tides.... whatever, but without a plan, your just gambling.

Study and put the graft in... Don't rely on t2w members! lulz

 

[SanMiguel]

If you need to ask, you're gambling.

Either you have a plan, or you understand and trade on intuition/fundamentals/the tides.... whatever, but without a plan, your just gambling.

Study and put the graft in... Don't rely on t2w members! lulz

Demo account, how else do you learn without the forum!!!!!
The plan is to trade S&R.

 

[wasp]

Demo account, how else do you learn without the forum!!!!!
The plan is to trade S&R.

Fair enough... but don't trade on peoples opinions.... search the 8 years of posting on S/R on this forum.... use the search facility... me, dbpheonix, firewalker, wyckoff, all the first step threads.... (a small number of the multitude of supply/demand traders) Study those and you won't need to ask peoples opinions, you'll already know.

Knowledge is power. Give a man a fish and he'll eat for a day, teach him how to fish, and he'll feed his family for life...

 

[SanMiguel]

Fair enough... but don't trade on peoples opinions.... search the 8 years of posting on S/R on this forum.... use the search facility... me, dbpheonix, firewalker, wyckoff, all the first step threads.... (a small number of the multitude of supply/demand traders) Study those and you won't need to ask peoples opinions, you'll already know.

Knowledge is power. Give a man a fish and he'll eat for a day, teach him how to fish, and he'll feed his family for life...

Well, my opinion is that it's a good trade, but the trade was entered at the top resistance zone line yet the price moved to the bottom one, which is worrying, still within the SL.

 

[SanMiguel]

I guess not. I couldn't take the 70 pips cos I was asleep!
Maybe stop loss should have been a little bit lower.