I would be cautious with any sort of entry - 2 things - where do you put your stop, and prices have gone straight into support. You'd wait for a pullback somewhere into that momentum bar and see how that plays out.
SeremoniaFx
⋅
Hi GodwinLee thanks, just for the information. Basically i did it for 50 pip and stop loss 50 pips either. When it hits S/L Buy/Sell Limit will anticipate once again at the same direction to prevent loss with higher T/P at least 10 pips more (60 pips). Suppose the trend is not strong enough to go down and it went up first and hit S/L. Since i have assurance that it will go down, then SELL Limit will try once again to grab 50 pips or more.
The philosophy behind this is that, even though the fluctuation has huge impact to go to the opposite direction but since my analysis (or yours) must be accomplished (if you are confidence enough), then it will do once again perhaps with less momentum (counting from early day until the end of the day) but we can still grab the same amount of pips if we do it from the first time hit S/L.