Trading Consultants Inc. Lesson Entry and Closure. Lower Time Frames.
On 10-9 we sold 1 lot GBPCAD (a probing entry ) on the pin bar rejection. When that zone was consumed and ultimately fails, price moves about 30 pips against our position to the next supply zone. After about 1.5 hours price action reveals a "combo engulfing candle price action. We enter in 1/2 position ( 5 lots short) remains open at this time. 4:35 GMT( JUST BEFORE LONDON CLOSE).At price congestion, we close BOTH POSITIONS and wait for further confirmation. Seeing the pin again we enter continuation 1/2 position size 5 lots with a target set as shown.