Another missed one.
But what ever...you can't get them all. One of the primary purposes of this blog is for my own development, thus I post both missed and taken trades. I switched to the pound right as it was triple bottoming and missed this one, there were a few chances for a reentry, but then my kid came over and thus I was not able to keep a close eye on things. At this point it is a +60 pip move.
I had no homework done on this and was about to do so...when i switched it was around the triple bottom around 1.7708. This is my type of set up though, point and figure showed a double bottom(weak, but taken in context a reasonable chance of bounce). Note the respect of the prior trendline.
The risk to reward was very good. Maybe 10pips at most, likely less with a box break on my point and figure chart.
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