DislikedThe more time I spend with the system the more it divulges itself for me. It is an amazing journey thus far and quite frankly it is the first time I have had to find my own answers to my own questions as I gain experience with the system. I have had the privilege to be spoon fed when it comes to the HOW of trading (thnx to the j16 group) and all that is actually making this new variant of trading knowledge an interesting venture.
I now know that you can't just buy/sell into a top/bottom without making a note of the area price has bounced off of....Ignored
I did notice that reversal but paying more attention to 8500. The price broke 8500 and then started retracing. Now 2 things could happen.
1. Price will respect 8500 and will acts as a support
2. Price does not respect 8500 and price breaks through
In this case, I believe the 1st one happened. Price stalled at 8500 and formed consolidaiton with 4 bars. The 5th bar broke 8500. This bar happened to be touching EMA21. Hence I considered this bar as a trigger bar.
Probably should have waited until price crosses 8540/8530.