Ed if you went only on closing price, traders would be stuck in trades all over the place, let alone how much profits they'd leave on the table. Wicks and the understanding of them are so dam important if you want to swing trade. Can't emphasize that enough. If it was only closing prices then we could all just use boring line charts and not need to focus on anything intraday. But that is far from the case if you want to survive in this caper. IMO.
Yeah Matt I needed to close Thursday morning unfortunately. That sell down on Wednesday arvo was the exit signal. It'll set up again I'm sure.
To be honest the current set-up isn't all that negative as it's stiff above the 8ema and bollie median but it was a fast rise on a tough week (across markets) so happy to close out.
This is what happened to the 30min and hourly so easy to read.
Cheers
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