In order for me to take a trade price must meet my terms first... So if price reaches this level I percieve it to be at a reasonable price to sell relative to the 1 hr trend. with stop in place. In essence I am telling the market that if you want me to enter short you are going to have to give me a better price first. And if the market doesn't give me the price I want than I tell the market to go F itself and find something else to do ; )
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Nathan2212
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Well sometimes I miss the big moves! But note that price has in fact continued in the direction of my bias even though I didn't get entered into a trade. So now that the market has show more bearish pressure I can now lower my sell price expectations to a new level tracking the market as it goes!