Testing same theory again. Price hit resistance more than 3 times, instead of only 2; this leads me to believe price will now go in the opposite direction. Once again, will it hit the entry point? That I do not know. I just hope that it does because it's already in a strong sell.
Fluctuation of price is the only thing I really have which leads me to believe it will hit entry point and then move in the direction I'm anticipating.
so price did fall. It just never hit my entry (makes sense bc I didn't have enough info to know why it would.)
good news: i'm on the right track!
raychrisdiamonds
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The reason I picked entry point in that particular spot, was so that I was near where I expect stop loss to go. This also allowed me to stay in a 10 pip loss range.
good news: i'm on the right track!