Anywho, my LONG's TP line from last night was taken out probably because of:
1) USD meeting expectation so the hype is over
2) New sanctions against Russia started the drums of war again.
BUT! going LONG AGAIN for the following reasons:
1) formation (though slanted) with a) price bouncing off a previously placed H/L line (Orange) and b) price bouncing off a long, long term (Dotted Orange)
2) 2HR is doing a double cross of 1) itself and 2) zero line
3) 5M is crossed
4) A double bounce off of a 15M 200MA line
5) Bounce off of the 1HR line
So, in a trade, you're supposed to wait for the SHOULDER to be crossed and then set the SL at the last peak/valley... I chose to start in now (as I'm golfing and will check in around 5th hole), with a loose SL. I may switch to a BE stop however.
You may wait for the following reasons:
1) Wait for the to confirm
2) Wait for the 1HR to do its cross
Or, wait till the weekend because Putin loves to move on Saturdays.