Tampa St. Petersburg Map

Tampa/St. Petersburg Map on 1 more or less took place from the base of the 80-level, the top barrier and the round number coincided, providing double support should a pullback have come to test the breakout (no immediate risk for our stop yet). In the situation above, the round number magnet resided well below the top barrier, and uncomfortably close to where we put our stop. While the mere eventuality of a hurtful pullback is not necessarily a reason to skip an otherwise decent break, it remains an element of concern with the trade up and running. In other words, whenever a stop resides in the conspicuous pull of an adverse magnet, it may pay to deploy a reversal exit on a W or M-pattern break more quickly (as opposed to hanging in, in the hopes of a failed reversal) . Figure 1 1 .5 This eurjusd 200-tick example nicely illustrates the danger in going up against the resistance of a new round number, as well as the benefits of trading in its favorable pull. As first sight, trading the break above bar 2 does not seem such a bad proposition. Tampa/St. Petersburg Map 2016.

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