My first post so I am a little green to this.
The following is a screen cap of what I believe to be a P1 and P2 trade. They are marked by the blue and black arrows respectively. I did not take any trades on this chart I am only inquiring if my logic is correct and what can I improve on.
In regards to the bars highlighted in the blue shaded box, I was wondering if they would have counted as a P1 trade if “hypothetically” this was the only P1 set up. I understand that the second bar did not close in the same direction as the first bar. However, I am imaging what it would have looked like in real-time. I would have placed a buy limit one tick above the high of the first bar, and I would have been long in that position despite its closing in the opposite direction.
Feedback would be much appreciated, and I am very grateful to have found this community. I am looking forward learning and sharing my experiences in trading with everyone.