Also, on the daily chart, since we're waiting for the retracement to pass the 50.0 line before we get into our trades, we could potentially enter them later than normal. Sure a late entry would mean slightly less pips, but better than no pips at all. I typically trade 3 hours into the Asian session, or 3 hours after the open of that 3rd candle, and the price I find is usually floating around the 50.0 line already so it's perfect. Since these trades can last days/weeks, someone living in Europe can certainly benefit in late entries as well.
I would advise to tighten up the SL a little bit though on late entries. No point in risking more for less. Just doesn't make sense.