Reasons for entry:
- Uptrend
- Well above both the 50 and 200 EMA
- Previous structural high was broken and retested which I used as a S/R flip
- 4H doji to my support which lined up nicely with the 23.6 fib
Stops were nicely placed giving decent breathing room for the trade but not so big that my RR was affected. TP was -0.618 fib extension and blue line was previous daily structure.
Lessons learned: Don't close the trade out just because you are floating in decent profit, if the 1H closes below a zone then close, and in this case i could trail stops and leave TP open as it wasin big profit.
Orange line was where i got out.
- Uptrend
- Well above both the 50 and 200 EMA
- Previous structural high was broken and retested which I used as a S/R flip
- 4H doji to my support which lined up nicely with the 23.6 fib
Stops were nicely placed giving decent breathing room for the trade but not so big that my RR was affected. TP was -0.618 fib extension and blue line was previous daily structure.
Lessons learned: Don't close the trade out just because you are floating in decent profit, if the 1H closes below a zone then close, and in this case i could trail stops and leave TP open as it wasin big profit.
Orange line was where i got out.