British Pound Price and Time Squares

I'm out of my long trades. I had two entries right on time. The second entry didn't yield a whole lot of pips, but at least it wasn't a loss. I had used a 15 minute chart to come up with a price and time target. The price target was wrong, but the time target proved to be a spike and the bar where price broke support. It's easy to be wrong on price, but on time, there's usually something happens. A spike, a reversal, breakout, etc. The hard part is knowing what side to be on and what to do if you're wrong.



Below is a 1 hour chart showing one of the reasons I went long in the first place. Price and time squared up at 315 degrees. 315 is a powerful number on the British Pound that usually means reversal. More so than 360 degrees with the method I normally use. This applies to all time frames. However, in this case, price has gone on down to 360 degrees of price. If I get a signal to short, around 315 of price or a fibonacci price number, I'll look for the 360 degree corner of the square as the target for both price and time. If the target of price hits, it's trailing stops. I probably won't trade long again until I see signs of reversal on the daily charts. But my focus on the short side as indicated in my previous post.