I am having great success trading scalp lines yet I am having an awful time trading S&R lines especially on the GBPJPY.
I think the reasons may be that I am trading S&R like a scalp line break but I keep getting spiked and then the trade comes back. I think this is partly because:
- the current S&R lines on most majors and GBPJPY are all new and they keep moving by a few pips every time the price reaches there. PA hasn’t been in these regions for a while;
- should I be waiting for reversal formations at S&R lines? If I do, then I miss the trades that break through the S&R line.
- in cases where price breaks through the S&R lines, am I acting too early in trading it like a momentum break? Is it better to wait for a break of an S&R line to return to the line, ie breaks support, line now becomes resistance?
It’s annoying the hell out of me
I think I’m just gonna trade scalp lines and master candles as it suits me more