BREAK AND RETEST PLAN: 1.WAIT for a 4hr close above resistance zone 2.WAIT for retest back into or close enough to the zone . 3.Wait for some sort of rejection on the 30min or hourly. 4. Wait for price confirmation 5. buy The trend is your friend, it makes no sense to trade against it. my analysis is done according to momentum.
stops should be adjusted based on how and where the 4hr candle closes. so risk might increase or decrease.
Trade closed: stop reached
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we got a stunning key candle at retest point however stops were hit shortly after. (no trades taken. dont add to spreadsheet as i do not trade outside of 6am-12pm)
Trade closed manually
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my mistake, i had traded this yesterday, closed manually at 40pips because price reached a resistance level before price went up another 60pips i closed because i didnt feel comfortable holding this and didn't want to be greedy.